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bitcoin ¡Demand increases and supply decreases in the Bitcoin!
Obliv0n posted a topic in Crypto World
It is no secret that today the adoption of Bitcoin has increased faster than the system can support, therefore the supply has been limited due to institutional purchases, which monopolize the newly mined coins, leaving the exchanges with a low supply compared to past years. This can be the basis for an outbreak that involves a rebound in the price of Bitcoin, since the less supply is in the market, the greater the demand and therefore the profits will increase. This could be interpreted as a possible "bubble", but for now it is inevitable. What's your opinion about it? Is institutional adoption a bad thing for individuals or in the long run is it better for them to dictate how the market works?- 58 replies
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It is not a secret that various private firms have bought Bitcoin in the last 6 months, MicroStrategy and square are an example, but none is enough for GreyScale, which today has reported that its investment portfolio exceeds 20 billion dollars in cryptocurrencies. This is an alarming figure, considering that exactly a year ago the amount was 2000 million, this has brought to the debate the fact that GreyScale may be attacking the neutrality and decentralization of the network, since it will buy more btc than that is mined monthly. Some defend this on the basis that it benefits price, but it is small investors and traders who will be affected. What do you think about this new chapter in the history of Bitcoin?
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Although there are currently more than 4 million mining equipment operating in the Bitcoin network, the demand for mining machines in the market would be one and a half million more units to add. The increase in difficulty is coupled with the increase in processing power on the network, which has also been touching its maximum historical levels recently. Even, the miners reached the milestone of 100 trillion hashes per second (EH / s) of processing, coinciding with the release of more powerful and efficient mining equipment. Is good to know, the high demand for mining equipment corresponds to the profitability levels that Bitcoin mining activity has shown since its creation, only 10 years ago. 🙄
