By Hassan Mehmood (Saudi Arabia)
It has been a few dreary weeks for Bitcoin where its performance became questionable, and the crypto market is at the hinges of its volatility; this gave various investors some tough nights. But all has been sorted as the bullish trend keeps on, with Bitcoin surging the currency to reach $54k as of today. Although the current price performance of Bitcoin is over the top, these are the supply figures that have gotten the investors from their wrong side. The one-day Bitcoin trade chart corresponding to a spontaneous flow for two to three years just fell to fourteen months in total while bringing the total volume to 1.9 million Bitcoins.
As the current price of the Bitcoin stays at $54.8k, this demonstrates that it will keep on trading and rebounding within the $49k-$56k value for now. On the other hand, the on-chain analysis indicates that there was no sort of sentiment attached with such a high price of Bitcoin among traders. The further suggestions and probability analysis was made by experts point towards a high price dimension for Bitcoin to move into. But there is another thing to worry about: the volatility of the crypto market; as evident from all these years, when the price of the asset increases, so does the volatility of the crypto market.
Bitcoin Shortage Coming Up
The current shortage analysis is no good news; many would presume that as the commodity or asset people want to invest in will become scarce, its price will go high. But the one thing that people might not get is that it adds to the instability of the market or platform where the trading takes place, which happens to be the crypto market. The narrative for Bitcoin’s shortage is building up at the moment, and it is undoubtedly a little different from the bullish run of the cryptocurrency in the past few prices drop, so to speak.
This very drop in the active supply of Bitcoin is not at all grouped with a decline within the inflows that are made to the changes. However, according to few financial experts, this active shortage could lead to some tremendous price increase for Bitcoin, but there will only be short-lived.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.