Bitcoin, the first cryptocurrency that comes to mind when it comes to blockchain, has been on the rise since the beginning of this year. In addition to the recovery of the markets, Bitcoin Now that the halving was approaching, people even started talking about the fact that the bull season had started. Bitcoin in the current month, 73 thousand dollars It reached its highest point ever. Later, Bitcoin fell, first falling to 62 thousand dollars, then back to 65 thousand dollars.
Blockchain analytics company CryptoQuant According to the report published by Bitcoin, contrary to what some investors fear, Bitcoin is far from out of bull season. Making a statement on this topic, Gate.io Global Growth Director Kafkas Sonmez“The report in question takes into account the relatively low investment flow from new investors and the fact that measurements of price increases are below the levels of previous peaks. It is stated that a bull cycle is over when 84% to 92% of cash flow comes from new investors, while in Bitcoin this percentage currently stands at 48%.” he said.
1,500 new millionaires every day…
The report states Bitcoin Prices Recent price changes are compared to corrections in 2019. It was stated that the share of cash flow from new Bitcoin investors in the total cash inflow was less than half. According to this point, the recent pullbacks in Bitcoin are a correction and the bull season will continue.
Once again, according to the report, Bitcoin exit returns for profit exceeded $3.5 billion and reached all-time highs. Sönmez quotes a report they reviewed the week cryptocurrencies peaked: “We saw Bitcoin making 1,500 people millionaires every day during the bull season. Although it is not clear who these people are and whether they are an individual or institution due to the confidentiality of the wallets, it can be determined that Bitcoin has played a major role. achieved significant gains in a short time. bitcoin millionaire Growth is slow, the main reasons for this are whale profit movements and the fact that new investors may not have met Bitcoin yet. Nevertheless, the last bull run left 4,000 investors with more than $10 million in wealth.” he said.
What do you think of Bitcoin’s bull season? Do you think this period will continue?
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Source: Web Tekno
Jason Root is a blockchain enthusiast and author at Div Bracket. He provides comprehensive coverage of the latest developments in the world of blockchain, offering readers a unique perspective on the industry and its potential for revolutionizing various industries.