Key Bitcoin Price Indicator Suggests Massive Bull Run | Owning 1 BTC Soon Be Out Of Reach for 99.8%




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The blockchain intelligence firm Glassnode says a key Bitcoin price indicator suggests the crypto market remains in the early days of a long-term bull run.

According to Glassnode, the number of BTC addresses with unrealized profit is at similar levels to the start of three major rallies. Unrealized profit is calculated by taking the difference between the current BTC price and the price at the time that Bitcoin in a given address last moved. It’s a sign of how many traders are determined to hold on to their investment.

Meanwhile, Bitcoin’s hash rate is hitting new all-time highs. The hash rate is a mathematical representation of the amount of computing power dedicated to processing Bitcoin transactions.

The higher the number, the stronger and more secure the network. The high water mark suggests miners that power the leading cryptocurrency are feeling bullish on their ability to turn a profit by powering the network.

Owning One Bitcoin (BTC) Will Soon Be Out of Reach for 99.8% of World’s Population, Says Morgan Creek Digital Co-Founder

Morgan Creek Digital co-founder Jason Williams says owning a single Bitcoin will soon be out of reach for the vast majority of the world’s population as Bitcoin (BTC), the leading cryptocurrency by market cap, eventually moves past the upcoming halving event in May.

Williams highlights the popular stock-to-flow model by crypto analyst PlanB in the run-up to the Bitcoin halving. The event, which happens approximately once every four years, cuts the supply of new Bitcoin entering the market in half.

According to Williams, the halving could make Bitcoin too expensive for the average Joe to afford, if in fact the event has a similar impact on price as the past two halvings.

Several crypto influencers have released high-flying Bitcoin price targets due to the halving. Tim Draper, founder of Draper Associates, predicts the halving event will push the cost of Bitcoin to over $250,000 before 2023. By that time, he expects BTC to become the currency of choice.

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🔥 Live Real-Time Bitcoin Price + News:
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Show Notes / News Resources:
– https://dailyhodl.com/2020/03/02/key-bitcoin-btc-indicator-suggests-cryptocurrency-market-poised-for-massive-bull-run-glassnode/
– https://dailyhodl.com/2020/03/02/owning-one-bitcoin-btc-will-soon-be-out-of-reach-for-99-8-of-worlds-population-says-morgan-creek-digital-co-founder/
– https://cointelegraph.com/news/bitcoin-holds-87k-as-concern-mounts-over-coronavirus-stocks-party
– https://twitter.com/glassnode/status/1234554063666024448
– https://twitter.com/BinanceResearch/status/1234311320620584960
– https://twitter.com/TheCryptomist/status/1234503461196193793
– https://twitter.com/JWilliamsFstmed/status/1234168874863599619

DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky and so is investing into Cryptocurrency. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

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23 Comments

  1. Bitcoin is up more than 2% and it recovered to $8,700 resistance area against the US Dollar and might continue this rally and it could extend to over $11,000 so now for bitcoin enthusiast now’s still a perfect time to actually buy on the cheap, accumulate and increase your position (DCA) or better day trading under the supervised guidance of an expert with a proven success record. I trade under the guidance of Nathan Trueman and with his accurate trade signals being copied in my trades, I have amassed 15 BTC in my portfolio from my initial 2 BTC in just 3 months. Mr. Trueman is truly an exceptional trader and expert’s traders like him should provide mediums like these for the ever-growing population of less-experienced traders and he can be reached through WhatsApp (+44 7723984457) or Telegram (nathantrueman) for inquiries into his services.

  2. Actually Tim Draper says that his price prediction about Bitcoin hitting $250,000 during the next four years is not because of the halving. He's equating it to bitcoin stealing a boat load of market share from the currency markets around the world.

  3. Bitcoin and Litecoin reward halving supply shock coming down the track.🎢

    Last ‘round of halvings’ signaled the beginnings of the 2015 – 2017 price surge

  4. It may be out of reach for 99.8% of the earth to soon buy one bitcoin. However, 99.8% of earth could still buy a small fraction of a Bitcoin.

  5. If we look at stock to flow it allways shows less than the actual price.By the end of 2020 at least 33.5K and highest 75K (maths😉) and top 2021 at least 100K and highest 225K (maths)

  6. I recently invested money for 0.08 bitcoin becausse i could't invest more. Every day i hate myself a little more that i didnt invest earlier

  7. I have traded forex for over 3 years now and it has been a great experience with the right buy and sell directions but recently I tried bitcoin trading and the experience is just different, say mind blowing.
    Bitcoin is here to stay. Before you despair remember how the bitcoin boom started in 2013. It rose through the ranks despite the people's skepticism. Remember how bitcoin rose from $6000 to $8000 in 5 days? Its not like these kind of bulls aren't possible anymore anymore. Remember how bitcoin has risen trendily over the years despite the ups and downs? This is just another one of such trends. Trust me, no one wants to miss out again because BTC is inevitably rising again and massively. Though Buying and trading profitably is still very viable with the kind of trading signals I get from Benjamin Jackson. He is a crypto trading professional who has helped me raise 6 btc from 1 in 3 weeks. He can be reached on (( Email@ BenjaminJacksontv@gmail com & Telegram@ BenjaminJackson )) for further assistance on trading profitably even at challenging times like this. Do not despair BTC is here to stay.

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