Over 60% of all Bitcoin Out there hasn't been moved for quite some time!

in hive-175254 •  3 months ago 

It has been reported that over 60% of the total BTC supply in circulation hasn't left its wallet in more than a year, meaning there's a high presumption bitcoin will hit a new ATH. I dont know if it has something to do with halvening, however I'm expecting to see major market moves and 14k btc around may.

That was the conclusion of analyst Rhythm, who uploaded statistics about Bitcoin network activity on Dec. 2.
Of the roughly 18.08 million Bitcoins which have been mined, 11.58 million — or 64% of the supply — has stayed in the same wallet since 2018.

Regardless of short term loses or price downtrends, it seems that Bitcoin truly is capable of transforming global economy. The Worlds combined debt recently reached new highs estimated around $250T , which basically implies that if divided with 7B people, every single persona would/is indebted around $30 000 haha, holy fuck.

Current situation is unsustainable and the elites are aware of it, don't fool yourself.

The reason I'm emphasizing on this one lays in the fact that global debt can get easily drowned into Bitocoin. If we assume that only 20% of overall debt ends up being shifted towards digital asset as a newly created value, one bitcoin would be priced around $2M dollars.

Worlds economy is slowly losing its ground and unconventional approach is a must, otherwise there is no end.

Subsequently, markets reversed downward, shaving 52% off the highs to reach local lows of $6,500 on Nov. 25.

Sentiment and the idea of bitcoin is slowly reversing, people are starting to realize the importance of decentralized money, while Governments are trying to undermine its intrinsic value.

We are about to transform and disrupt the way we perceive value, along the way reshaping our understandings of money.

Ideology behind bitcoin is modern synonym for financial freedom and decentralized governance but people are not aware of it, yet. There is a problem in regards to it as majority is feeling way to comfortable, assuming that the World is peacefull place with no suppressions what so ever. Totaly wrong presumtion and will cost us a lot.

The world is changing and we're the ones contributing towards social revolution.

Keep up the Hustle.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Dear @ocupation

Interesting choice of topic.

I expect that printing FIAT money like crazy (which is happening now in USA, EU and China) will be main reason why price of BTC will reach new ATH. Mostly because fiat will be losing it's value and investors will be looking for different assets to run into with their wealth. Crypto surely will be one of those assets.

If we assume that only 20% of overall debt ends up being shifted towards digital asset as a newly created value, one bitcoin would be priced around $2M dollars.

That would me massive. However 20% is not "only" :) That's actually huge number, don't you think?

Worlds economy is slowly losing its ground and unconventional approach is a must, otherwise there is no end.

I've been wondering - let's say that we would all face inflation and devaluation of main fiat currencies. Couldn't then things go back to normal? Just like it happened in Turkey and Russia or Egypt not that long time ago?

Upvoted already,
Yours, Piotr

That would me massive. However 20% is not "only" :) That's actually huge number, don't you think?

That's massive numbers we are talking about, but many have been speculating on drowning around 40% of debt into bitcoin. That's why i said only

Things can't back to normal since there will always be elites accumulating everything valuable regarldess if we are talking about morgages, real estate, gold, silver, bitcoin. General masses will never have the word until they start understanding the concept of oligarchy.

I asked myself the same question, especially while i was a kid. Why can't all debts simply be erased so the man kind can continue on progressing. Well, its not the way the world work, unfortunately.

Thanks @ocupation for being so responsive.

It's me again @ocupation

I would need to ask you for little favour. Recently I've decided to join small contest called "Community of the week" and I desribed our project.hope hive/community. Would you mind helping me out and RESTEEM this post - just to get some extra exposure? Your valuable comment would be also appreciated.

Link to my post: on steemit or on steempeak

Thanks :)
Yours, Piotr

It will really be a great thing if the idea of cryptocurrency is widely accepted to a great extent I feel the economy will be affected positively.