CryptossorCryptossor
  • Home
  • News
    • Global
    • Bitcoin
    • DeFi
    • Cryptocurrency
    • Economy
  • Technology
  • Contact
Facebook Twitter Instagram
Subscribe
CryptossorCryptossor
Twitter
  • Home
  • News
    1. Global
    2. Bitcoin
    3. DeFi
    4. Cryptocurrency
    5. Economy
    6. View All

    Binance Delivers The Good News For These 2 Altcoin Investors!

    Ocak 11, 2023

    They Deleted The Tweet And This Metaverse Coin Is Crashed!

    Ocak 11, 2023

    Robinhood Delists This Altcoin: Price Crashed!

    Ocak 11, 2023

    Famous Stock Exchange Delists 33 Altcoins: Here is the List!

    Ocak 11, 2023

    Bitcoin Billionaire: This Platform Could Crash! But Like FTX..

    Ocak 11, 2023

    Tomorrow is Critical Day for Bitcoin: 5 Analysts Are Waiting For These!

    Ocak 11, 2023

    2 Important Charts Say ‘Buy’ This Cryptocurrency!

    Ocak 11, 2023

    Major Cryptocurrency Exchange Announces: Terminating!

    Ocak 11, 2023

    Defrost Finance Team Calls Rug Pull Claims Slander

    Aralık 30, 2022

    Arab Bank Switzerland Presents 10 DeFi Tokens to Customers

    Ocak 7, 2022

    Celsius Network Confirms They Lost Money In BadgerDAO DeFi Attack

    Aralık 3, 2021

    SEC Chairman Gary Gensler Speaks About DeFi

    Aralık 1, 2021

    Bitcoin Price Predictions for 2023 from the Professionals

    Ocak 11, 2023

    Why Is Bitcoin Price Rising? Will the Ascension Continue?

    Ocak 11, 2023

    Iceberg Capital Launches $1 Billion Fund with Venom Foundation

    Ocak 11, 2023

    What is Flare (FLR)? Flare Token Price and Comment

    Ocak 11, 2023

    The end of the road has appeared for the Plus model of the Samsung Galaxy S series! So what’s the reason?

    Ocak 11, 2023

    Mortgage applications increase in the USA, interest rates decrease

    Ocak 11, 2023

    The expectation for the future of the economy is getting worse: The rate of those who have negative expectations about the economy has increased from 50 percent to 71 percent.

    Ocak 11, 2023

    Economists hope lifting of China’s COVID bans will boost 2023 growth better than expected

    Ocak 11, 2023

    The end of the road has appeared for the Plus model of the Samsung Galaxy S series! So what’s the reason?

    Ocak 11, 2023

    Binance Delivers The Good News For These 2 Altcoin Investors!

    Ocak 11, 2023

    Bitcoin Price Predictions for 2023 from the Professionals

    Ocak 11, 2023

    Why Is Bitcoin Price Rising? Will the Ascension Continue?

    Ocak 11, 2023
  • Technology
  • Contact
CryptossorCryptossor
Home»Bitcoin»2 Important Charts Say ‘Buy’ This Cryptocurrency!
Bitcoin

2 Important Charts Say ‘Buy’ This Cryptocurrency!

cryptossorBy cryptossorOcak 11, 2023Yorum yapılmamış4 Mins Read
Facebook Twitter Pinterest LinkedIn Reddit WhatsApp Email
Share
Facebook Twitter Pinterest Reddit WhatsApp Email

Cyclically, we find ourselves in the middle of a cryptocurrency winter again. And as with previous crypto winters, critics and opponents argue that Bitcoin (BTC) is dead, can’t rise again, is a zero-ponzi scheme and will never recover. But meanwhile, analyst RJ Fulton shares two charts that he continues to buy Bitcoin, causing him to buy the biggest cryptocurrency. Here are the details…

The limited supply argument in Bitcoin, the most important thing

All the negative news in Bitcoin has been occurring since it was created in 2009, but all it has done since then is to go on a historical run and become the best performing asset in history. Bitcoin forces us to think about what money really is and how it should work. Bitcoin has been touted by some as a near-perfect form of currency. According to the analyst, despite the volatility seen as a feature of new assets that will eventually decline, there is reason to believe that Bitcoin will once again rise from the ashes and reward investors who hold it long and patiently.

One of the key features of Bitcoin as solid money is its inherent scarcity. There is an ingrained limit in its code: There will be a maximum of 21 million Bitcoins in circulation. The only way this can be changed is if 51 percent of the nodes running the Bitcoin network agree. “I don’t think that will ever happen. This is one of the most important elements that make Bitcoin Bitcoin,” he says. This limited supply argument has helped boost the price of Bitcoin over the past 14 years.

Since 2009, demand for Bitcoin has only increased and will likely continue as it remains resilient, has proven to be a viable store of value, and as people around the world seek more robust forms of currency. To better illustrate the dynamics behind Bitcoin’s supply and demand, the analyst shares the charts below.

Chart 1: Increasing demand for cryptocurrencies

There are a handful of metrics that can be used to show the growth in demand for Bitcoin. You can see graphs for the number of active addresses (wallets that send or receive cryptocurrencies over a period of time), transaction volume, or activity on the Bitcoin Blockchain. However, the analyst says, “While he believes that Bitcoin may eventually become a viable currency for day-to-day transactions, most investors who support it today are interested in it as a store of value.” So, to capture the growing demand as a store of value, a graph of all Bitcoin addresses currently holding at least 0.01 Bitcoin shows as follows. The metric in question is currently sitting at an all-time high.

You will notice that the graph is displayed on a logarithmic scale. If drawn on a linear scale, the line would show a continuous rise from left to right. Unlike linear graphs, which you may be more used to viewing, logarithmic graphs are more suitable when you want to display wide ranges of values ​​or describe the rate at which something is growing. The number of addresses holding at least 0.01 Bitcoin according to the chart increased in the earliest period of the token’s history, but has continued to rise since then, even in the midst of the current crypto winter. This metric, which stands at more than 11 million today, has increased 70 percent over the past five years and has risen 3,000 percent since 2013.

Chart 2: Outstanding supply

The chart below shared by the analyst shows Bitcoin’s declining supply-side growth. With only 21 million Bitcoins to be created, it could be enough to satisfy the appetite for increased demand – especially considering that around 91 percent of all Bitcoins have already been mined. Again, this graph is plotted on a logarithmic scale because it is more accurate in showing the rate of change. Rather than being inflationary, Bitcoin is considered a deflationary asset – a great quality for a store of value to have. Deflationary assets increase an individual’s purchasing power over time rather than decrease it. This is the opposite of almost every currency issued by the state.

There are about 19.25 million Bitcoins in circulation today, and by the year 2140, when the last Bitcoin is mined, only 1.75 million more Bitcoins will enter the supply. Considering near-zero coin inflation, Bitcoin could benefit from increased demand and limited supply in the future. Thanks to increased demand, Bitcoin’s price has skyrocketed over the past decade and may rise again as it becomes more scarce. At least, the analyst states that he is currently a Bitcoin buyer because of this belief.

Analyst bitcoin Chart Money Supply
Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email
Previous ArticleNew sales record from Rolls-Royce
Next Article Could BONK Be The Next SHIB? If Not Which Coin?
cryptossor
  • Website
  • Twitter

The most realistic News Of The Crypto press@cryptossor.com https://twitter.com/cryptossorcom

Related Posts

Bitcoin Price Predictions for 2023 from the Professionals

Ocak 11, 2023

Why Is Bitcoin Price Rising? Will the Ascension Continue?

Ocak 11, 2023

‘Epic Rally’ Expected For These 4 Altcoins On Binance!

Ocak 11, 2023

Bitcoin Billionaire: This Platform Could Crash! But Like FTX..

Ocak 11, 2023

Tomorrow is Critical Day for Bitcoin: 5 Analysts Are Waiting For These!

Ocak 11, 2023

From Feudalism to Capitalism From Ottoman to Turkey (II)

Ocak 11, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

Advertisement
Our Picks
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Economy

The end of the road has appeared for the Plus model of the Samsung Galaxy S series! So what’s the reason?

By cryptossorOcak 11, 2023

According to information, Samsung is canceling the ‘Plus’ model of the Galaxy S24 series, which will be released in 2024. So why is Samsung taking such a decision?

Binance Delivers The Good News For These 2 Altcoin Investors!

Ocak 11, 2023

Bitcoin Price Predictions for 2023 from the Professionals

Ocak 11, 2023

Why Is Bitcoin Price Rising? Will the Ascension Continue?

Ocak 11, 2023

Subscribe to Updates

Get the latest creative news from SmartMag about art & design.

Facebook Twitter Pinterest

Type above and press Enter to search. Press Esc to cancel.