Crypto-asset trading platform Kraken has revealed the factor that powers the Bitcoin rally throughout October.
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Kraken’s report stated that the supply shock trend, which shows no signs of slowing down, could be one of the driving forces behind the Bitcoin rally.
According to Kraken’s report, long-term Bitcoin hodlers continue to accumulate Bitcoin despite the rise this month.
According to Kraken, Bitcoin miners are among those responsible for the supply shock:
Bitcoin is trading at $61,791 at the time of writing, according to CoinMarketCap data.