Once again, the market is aware of the volatility of Bitcoin prices, after most of the alts have risen at their pace, and the market seemed to take the form of an upward wave. This chain reaction in the price movements of the largest crypto market was caused by the price of Bitcoin that has moved in recent days, with the price of the King’s currency noting an increase of 6% on February 5, and its price of $ 9,150 to $ 9,695 0.85. .
The Altcoins also appeared in green after the Bitcoin bullish movement, with Ethereum registering 13% earnings on February 5, crossing the $ 200 mark. Current prosperity in the crypto market has been reflected even in the futures market, with markets for biased data providers that inform the Bitcoin futures community of more than $ 10,000 in March and June.
According to the attached chart, Deribit, BitMEX and FTX had futures contracts that expired on June 26 and were valued at just over $ 10,000. On the other hand, the aforementioned exchanges with Huobi, Kraken and others had another set of contracts that expired in March 2020 with a BTC value of ~ $ 10,000.
The blinds have taken over the market since the amount of Bitcoin online deposits has decreased considerably in the last six months. According to Glassnode data provider, the number of exchanges for exchanges also experienced a sharp decline. At the same time, the price of Bitcoin has increased in value.
Deposits fell in the second half of 2019 when the price of Bitcoin fell. However, he said investors withheld their assets during this period. According to the CEO and co-founder of CRUXPay and CoinSwitch.co, this is a sign of strengthening the belief in the long-term viability of Bitcoin. In a recent interview, Singhal said:
“The HODLers are not there for a ‘get rich quick’ mentality and now they are less confused by the micro factors that previously led to an exodus or sale of panic.”
Despite that biased feeling, total Bitcoin transactions recently exceeded 500 million on February 5. The network has reached a new historical record in terms of total transactions.
The Articles are from Tophyip.biz