11 Shares 2460 Views 1 Comments

Bitcoin Continues To Find Favor From Investors and Speculators

Karolis
September 26, 2018
11 Shares 2,460 Views 1
Bitcoin continued to find favor from both investors and speculators despite the cryptocurrency market facing sluggishness in the face of regulatory pressures. This is quite evident from a report suggesting that investors and speculators are continuing to have a sizeable position of the most valuable digital coin.

Positions Held

According to a blog of chainalysis, investors and speculators have not changed their perceptions on bitcoin and held their positions during the summer. This was based on updated data until August. This is slightly different from what was seen from earlier analysis during December to April period when long-term investors have resorted to selling about $24 billion worth of bitcoin to fresh speculators.

One of the key takeaways of the analysis is that there was stability in bitcoin price to some extent. This was based on different aggregates remaining steady during the period of summer. This was also evident from the way speculators have held their positions in bitcoin at about 22 percent of available cryptocurrency during the period May to August. In the same way, investors’ confidence in the virtual asset remained stable at about 30 percent during the period under review.



Less Hype

Chainalysis sees the trend as a less sensitive towards hype surrounding over the cryptocurrencies since there was no significant movement of price due to any fresh news. On the other hand, the cryptocurrency market appears to have recalibrated following the entry to several market participants. However, investors and speculators continued to have confidence in the virtual asset than those who were holding it until December last year.

The change in perception indicates that the cryptocurrency market could move significantly, whether up or down. However, that will depend on any fundamental change. This included any technology improvements, new use cases and restrictive regulations. Another key takeaway is that bitcoin has been able to maintain its user base growth pace from the levels seen in December 2017. This could be interpreted as overcoming the first challenge of adoption.

Follow us on Facebook , Twitter and Telegram

Enjoyed the content? Subscribe for more

Cryptocurrency Rates Live



You may be interested

Power Ledger (POWR) Wins World’s Largest Startup Competition
Crypto news
8 shares779 views
Crypto news
8 shares779 views

Power Ledger (POWR) Wins World’s Largest Startup Competition

Justin - October 20, 2018

The Extreme Tech Challenge, the world’s largest startup competition which was held on Necker Island (British Virgin Islands) with an all-star judging panel spearheaded by Sir Richard Branson as anchor…

Nascar Driver Gil Linster Will Be Representing Verge (XVG ) at the final Whelen Euro Series Event
Entertainment
9 shares3,878 views
Entertainment
9 shares3,878 views

Nascar Driver Gil Linster Will Be Representing Verge (XVG ) at the final Whelen Euro Series Event

Justin - October 19, 2018

The NASCAR Whelen Euro Series (formerly known as Euro-Racecar NASCAR Touring Series) is an official NASCAR stock-car racing series based in Europe. Before it was sanctioned by…

Tech Revolution: Seoul Has Lined Up 14 Blockchain Projects till 2022
Crypto news
11 shares3,515 views
Crypto news
11 shares3,515 views

Tech Revolution: Seoul Has Lined Up 14 Blockchain Projects till 2022

Rokas - October 19, 2018

There are 14 projects that are in the planning stage to use blockchain until the year 2022 in Seoul of South Korea. This is part of the…

Most from this category