is bound to take place. This is further reinforced by the MVRV ratio, which is still below one, meaning it is still oversold.2022’s biggest lesson for the crypto market was that economic factors have a heavy hand in Bitcoin’s performance. Will history repeat itself if the U.S cannot combat inflation? According toThe battle against inflation may bring about an extra debt burden and discourage lenders. Such an outcome might lead to higher inflation and a dive into economic recession.
As more countries threaten to abandon the dollar as the global reserve, a likely outcome would be a shift in favor of hard money. Gold is currently the preference, but perhaps gold might find favor with the masses in such a scenario.The state of Bitcoin accumulation An analysis of Bitcoin’s supply in profit revealed that more traders were in profit since the start of January 2023. Roughly 11.2 million BTC is in profit, which means that this is an amount that is in private addresses already. Roughly 7.66 million BTC was at a loss at press time.The amount in loss dropped substantially in the last 10 days, implying that a significant amount had been accumulated since the start of the month.
, and things may not necessarily turn out as expected, especially now that there is less liquidity in the market.Subscribe to get it daily in your inbox.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Source: CryptoAmb - 🏆 22. / 68 Read more »
Source: CryptoAmb - 🏆 22. / 68 Read more »