The Bitcoin exchange rate has made in the last few days of panic on the crypto markets. Only a few weeks ago, the positive news from China provided for a relatively strong increase of the short-term about 40%. However, it was expected that this China-Pump will not be only of short duration, but that it would not be sufficient to bring the BTC price above the strong resistance at the $ 10,000 mark. Now we are back in a correction, and many again raises the question of how one can interpret the current market and what to do now is to buy Bitcoin, Yes or no? We’ll look at in this article, not only the current mood in the crypto market, but also give a brief Update to the Bitcoin UTXO Age Distribution.
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Bitcoin exchange rate for some again before the end of
In the last few weeks, interest in Bitcoin and crypto has decreased currencies in General. The positive news from China could provide a short interest increase but this was apparently only of short duration. You can find statements that Bitcoin is dead and we can expect this year from any strong Bitcoin price movement upwards. Some of them go even to the extent that the BTC price will never rise back above the 10,000 USD.In such Statements, the crypto have used veterans a long time ago. These appear reinforced, if it gets a little quiet in the crypto-market, and seemingly not much is happening. But we know now all what we can think of such statements. We are still at the beginning of a long journey, even if the Bitcoin price for many already appears to be far too high.
The Bitcoin network solves a global Problem
Although the Bitcoin exchange rate plays well for the most the most important role, but this is much more than that. Although people living in countries that have, until now, a stable currency, are not able to understand the meaning behind Bitcoin, but people from countries like Venezuela or Argentina appreciate it now. BTC offers the first and currently the largest Alternative to the traditional financial system. With the decentralized network of Bitcoin, we get a purely digital Good, which can be controlled by any group, any financial institution or a Central Bank. Thus, Bitcoin is the first, and perhaps the last opportunity to keep his money outside of the system.In view of the escalating economic problems worldwide, could soon invest even more people into Bitcoin, not only to achieve a possible gain, but mainly to protect against the devaluation of the own currency. This is the case namely currently equally on the USD, as the EUR. Here new book is created every day and none of us has an Overview of how much exactly. Just the leads to increased Inflation and thus to the long-term devaluation of our money. I’ll take the official statement of the European Central Bank, which brings it pretty much to the point:
Praet: As a central bank, we can create money to buy assets #AskECB https://cryptomonday.de/?r=https%3A%2F%2Ft.co%2FzTQuU4y1ch— European Central Bank (@ecb) March 12, 2019
BTC against the arbitrariness of Central banks
It creates money out of Nothing and even of the financial market stimulated. This construct cannot work like that forever. Not for nothing, interest rates are already Negative in conversation. Thus, each should be aware of the fact that we have to lose, no conditions, such as in Venezuela or Argentina, but still, our money day-to-day value. Even worse for the USD.
The all time high price for a singular bitcoin was $19,891 in 2017.That is $20,835 in today’s dollars.— zach (@UncleZachh) November 9, 2019
Within the last 2 years the USD has lost so much in value that the former all-time high from the Bitcoin rate of 19,891 USD in 2017 will amount to the equivalent of 20,835 USD. This gives to think.Trading on our brokers comparison-winning eToro. You are looking for a reliable and intuitive Broker to trade crypto-currencies, CFDs, shares, Forex, commodities and more? Then let yourself be in our eToro Test in 2019 all of the features explain, what possibilities are given to you here and where is here the Before – and disadvantages are . eToro Test 2019 read now.
BTC UTXO Chart what he says exactly?
But now we come to the promised Bitcoin UTXO Age Distribution Update. UTXO is called “Unspend Transaction Output”, and indicates when the last transaction of each Bitcoin has taken place. Thus, one can determine exactly how many BTC for how long “dormant” were. In other words: when’s the last time you were moved.This Information can give us insight into the tendency of the investors of Bitcoin have currently. It is currently sold or kept? Let’s look at the current Bitcoin UTXO Age Distribution Chart in more detail.The Chart appears on the first glance quite complicated, so I will explain it here briefly. On the left we can see the number in percent of all outstanding BTC. The lower side represents the time of the first Bitcoin transaction today. On the right side we see the Bitcoin exchange rate, where the black Graph in the Chart-oriented. Now be shown in different colors, the last transactions of each Bitcoin. Started with red (the last BTC transaction less than a day ago) to blue (last BTC transaction is more than 5 years).
Is BTC kept up to date, or sold?
So we can say exactly to move and when and for how many Bitcoin the last time. In the respective price peaks of 2011, 2014 and 2017, we see a sharp increase in the daily BTC movements and a concomitant reduction of the Bitcoins, which have not been longer moving. Since the Bitcoin price drop by the end of 2018 to about $ 3,200 a month, more investors started to hold your Bitcoins (HODL). This Trend is continuing as before and there is a significant increase to recognise the Bitcoins longer than 18-24 months, 2-3 years and more than 5 years were no longer moving. This makes it clear that many have not lost hope and your Bitcoins iron HODLn.
Buy when fear of the crypto-prevails roads
Therefore, the most, the Bitcoin understood and the value already realized, far away from the Bitcoin price speculation, not a question of whether, or when, you should buy Bitcoin. In addition, an investment in a project with a large potential, which many doubt is often the right Moment. The has taught us already, Warren Buffet: “Be greedy when others are fearful, and fearful when others are greedy.”If you have already decided its Position in Bitcoin build, then you should split his Investment in the best possible way and in regular intervals to buy – regardless of where the course is located just. The Dollar Cost Average strategy was already tested in the traditional financial world, and eliminating the BTC price fluctuations.For this purpose, we recommend you the award-winning Broker is eToro, you now not only Bitcoin CFDs can trade, but real Bitcoin purchase can. The most popular platform today and get your first limited BTC!75 % of private CFD accounts lose money. No EU investor protection.How do you see the future of Bitcoin and the BTC price? Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)