Bitcoin
Reading time: ~2 m
Over the past 8 years in the history of BTC, there have been only 16 episodes similar to what happened with the coin last week. Growth by 36% was able to inspire even the most inveterate skeptics.
Source: glassnode.com
Analyst Dmitry Noskov notes that a feature of the current rise is a genuine interest in the network itself, and not the conduct of speculative transactions. The number of transactions per day reached 310 thousand. This is a clear signal of a bull market, characterized by an influx of new participants.
Source: glassnode.com
Another important indicator that the bulls are ruling the roost was miner earnings, which reached $22 million in daily terms. Such indicators have also become possible due to the increase in transaction fees.
Source: glassnode.com
It is no secret that the main driver of such a takeoff of the first cryptocurrency is the banking crisis, which has spread from the United States to other countries. While regulators are trying to reduce the aggravation of the situation with the help of new infusions, confidence in bitcoin is growing.
Source: StormGain
In this case, the amount of insurance stands out in particular, which in the United States is no more than $ 250 thousand. Such an amount is not enough not only for businesses, but also for individuals who have managed to accumulate a large amount in a bank account.
Against the backdrop of such a size of insurance, the volatility of the crypto market does not look so scary.
#Bitcoin #weeks #coin #history
