Bitcoin Faces a “Supply Shock” Due to Little Profit Taking

As the worth of Bitcoin reached an all-time excessive in October, a current report from Kraken Intelligence sheds mild on what’s behind the surge.

Particulars: The info from the report factors to a possible provide shock the place long-term holders will not be taking earnings. The variety of bitcoins that haven’t moved up to now 6 months has already reached a 3-year low, in accordance with the report.

Large Image: Principally, the report finds a variety of power amongst long-term holders and mining swimming pools. This consists of particular person miners who’ve realized modest earnings.

Numbers: The worth of Bitcoin skyrocketed over 35% in October.

Last Ideas: Regardless of these developments, the report concludes that there’s a significantly wholesome macro atmosphere for Bitcoin.

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