Cryptocurrency analytics firm
that Bitcoin’s blockchain saw the creation of 25,000 new addresses in just one hour yesterday. The last time new addresses were created at that pace was in January 2018, less than a month after of 2017’s Bitcoin mania reached its all-time high. Don't forget that defi projects are also locking up bitcoin .
Bitcoin’s Latest Bull Run Continues
, Bitcoin is up more than 118%. Move the time duration down to 30 days and you have a more than 52% gain. In the last two weeks the price is up nearly 28%, and over the last week, more than 15%. No matter how you slice it, now is definitely a great time to be a holder of some Bitcoin. This bull run is forging on to the detriment of altcoins such as Ethereum and other major altcoin projects. Many are lagging behind Bitcoin by 25% or more over the last 30 days. Another point for crypto is that it is deflationary.
There are many recent catalysts responsible for Bitcoin’s continuing price appreciation. One of them is the fact that President Donald Trump is
for the position of Comptroller of the Currency, an announcement made official earlier this week. Brooks looks favourably upon digital currencies and would serve a five-year term if successfully appointed to the position.
Bitcoin Investing Is Fundamentally Changing
A chart published by anonymous investor PlanB on Twitter shows that more and more bitcoins are being taken
and longer periods of time. He argues that more and more professional investors with bigger bankrolls and a longer-term vision are getting into the market than did in 2017.
The best part of PlanB’s observation is that Bitcoin isn’t all over the mainstream media like it was three years ago, meaning that it’s going to take an even higher run up for new retail investors to take notice. This means that many of the individuals or institutions buying up Bitcoin right now plan to hold it for a really long time.
Wondering
how to buy Bitcoin in Canada
? Netcoins is a publicly-owned, fully regulated crypto trading platform that offers Bitcoin (BTC) and other cryptocurrencies.
If you want to be one of those investors with a long-term vision, look no further than registering for a free account at Netcoins
to get started on your Bitcoin investing journey .
Written by: Jack Choros
Writer, content marketing at Netcoins.
The information provided in the blog posts on this platform is for educational purposes only. It is not intended to be financial advice or a recommendation to buy, sell, or hold any cryptocurrency. Always do your own research and consult with a professional financial advisor before making any investment decisions. Cryptocurrency investments carry a high degree of risk, including the risk of total loss. The blog posts on this platform are not investment advice and do not guarantee any returns. Any action you take based on the information on our platform is strictly at your own risk. The content of our blog posts reflects the authors’ opinions based on their personal experiences and research. However, the rapidly changing and volatile nature of the cryptocurrency market means that the information and opinions presented may quickly become outdated or irrelevant. Always verify the current state of the market before making any decisions.
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