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The COVID-19 has become a watershed moment in the course of our society, but the impact of the pandemic can be seen through its effects on the economy and society in general. From the perspective of a Bitcoin (BTC) investor, there are many things to consider. The patterns of emergence of the coronavirus determine how the infection spreads and sets society on a particular course towards the future. The impact of the new coronavirus on consumer society has been tremendous. The effect has been seen primarily as the closure of workplaces, which has resulted in people working from home, being laid off or, in some cases, being laid off. Unemployment figures have set records in Western countries, especially the United States. The path to economic recovery is still unknown. The current situation seems to indicate that companies need new types of fundraising to fully recover or to restructure. The lag between cases of infection and deaths is about two or three weeks: This means that when the epidemic reappears, according to the data obtained from the first wave, this happens in a predictable way, in risk groups and at the regional level. Exposure to Blockchain-based assets is concentrated in young male professionals in their 30s. If we look at the new entrants in the Blockchain asset classes among consumer segments, we can see that the largest number of new users has come geographically from countries where the local currency is experiencing high inflation, concentrating roughly in Africa and Latin America. Bitcoin is considered a safe haven asset, in particular because it is easier for consumers to access than traditional financial instruments. There are no minimum investment amounts, there are no rules on accredited investors, and the increased availability of exchange services makes the asset class attractive to the average consumer.

Bitcoin Days Destroyed is crucial to having a consistent investment strategy. Like any financial market, the cryptocurrency market is full of metrics that allow us to understand where it is. Thus, from the volume of transactions per day, to price variations and the ranking of the main exchanges, all these data allow us to plan an investment strategy. However, one of the most important metrics in the crypto world is very little known, that is why today we explain what Bitcoin Days Destroyed is and what is its importance. Bitcoin Days Destroyed (BDD) The crypto world is full of facts and figures. So many that sometimes it is difficult to locate the information we need at any given time, to know how to act within the market. Or worse, we find data that we are not quite sure what they are for. This being the case, on many occasions, of Bitcoin Days Destroyed (BDD). And it is that, Bitcoin Days Destroyed is a measure to visualize the volume of transactions in the crypto market. Measuring it through the multiplication of the number of Bitcoins traded in any operation, by the number of days that have elapsed since the last time those same BTCs were moved. That is, suppose we acquire 100 Bitcoins on Monday and we sell them on Friday.

Cryptocurrency trader is beginning to fear that a final correction is in the works. Attempting to explain this sentiment, he has cited a confluence of technical analysis factors, BTC could soon see a correction, Analyst fears, Bitcoin's inability to continue pushing higher after hitting $ 10,500 in June has not lent itself well to indicators. trending, this cryptocurrency analyst shared the chart below on July 17, showing that the Gaussian Channel is about to happen daily. In particular, this Gaussian Channel is a lagging indicator, which means that it may take a few days or weeks before it formally recognizes that a downtrend is in effect, the potential for it to 'flip' is bearish for the cryptocurrency because almost every Instance of this event was followed by losses, the analyst who shared the chart below noted in another analysis that the channel turned red three times during the 2018 bear market by 80%. The indicator also trended red near the peak of the 2019 bull market, preceding a 30-40% drop.

Not only are markets and prices affected by the buying and selling of normal market participants, but miners feeding the underlying network with huge BTC reserves can also have an even greater effect. Several large miners were seen moving 'unusually large' sums of BTC overnight, just before the massive market crash. Could they be responsible for the most recent drop in Bitcoin price below $ 11,000? And why are these miners suddenly selling their cryptocurrency when the asset is supposed to be in a new bull market? Blockchain data shows massive departures from BTC mining pool ahead of crypto market crash When Bitcoin was created, it gave birth to a new financial technology. There is the cryptocurrency itself, and then there is the blockchain network that sustains these tokens. The health and function of these networks, as well as their degree of decentralization, can have a dramatic impact on the value of an asset. Take Ethereum Classic for example. Repeated 51% attacks have hampered the altcoin's valuation. Supply and demand also impact valuations, along with the constant push and pull of market buying and selling. Miners who help secure and operate the Bitcoin network often need to sell the cryptocurrency to fund operations. Miners can wait until prices rise to do so. With Bitcoin trading at over $ 10,000 in recent months, miners may have decided that the time was right to dump some supply. According to fully transparent blockchain data, miners began moving an "unusually large" sum of BTC to exchanges. Bitcoin had already dropped below $ 12,000 at that time.

The king for many of the cryptocurrencies, Bitcoin fell in line with traditional markets. Bears have full control of the crypto market in the short term. After several days trying to hold the support at $ 11,200, the bears managed to win the battle, dragging the price of Bitcoin towards $ 9,960 in a continuous decline. After getting demand at a support located at $ 10,157, BTC has managed to breathe a bit, and although it is likely to make a major correction, the risk of continuing to decline is still there. Technical analysis of the price of Bitcoin. Medium-term trend From the weekly BTC vs USDT chart, we observe how the bulls continue to maintain control of the medium-term trend. The moving averages EMA of 8 and SMA of 18 weeks are crossed to the upside following this trend. It is still possible that the fall in the price of Bitcoin that we are witnessing is a correction in the medium-term direction, and that the named moving averages function as dynamic supports. Short term trend In the daily time frame a clear short-term downtrend is observed, recently reaffirmed with the break of the support at $ 11,200. The recent slide went unchecked towards a low of $ 9,960, and did not make a pullback to test the broken support as it usually does, and this is likely to happen. The next daily support is at $ 9,537. Further down is the demand zone between $ 9,170 and $ 8,900 that converges with the 200-day SMA.