Bitcoin News Thebittimes.Com

Bitcoin’s recent rally to a 2023 high is backed by on-chain and sentiment data. Data from Glassnode suggests that Bitcoin (BTC) is in an accumulation pattern with its available supply reaching a new historical low. According to the report, Bitcoin’s illiquid supply and long-term holders cohort rise. As Bitcoin’s supply tightens, available BTC is being purchased by smaller, long-term holding entities. Bitcoin accumulation among a majority of investor cohorts and the bullish conviction of long-term holders equates to investors gobbling up “92% of the newly mined supply ” according to Glassnode Analysis . “If we isolate only entities on the smaller end of the scale, such as Shrimps ( Entity Bitcoin balance changes versus issuance. Source: Glassnode On the backs of smaller entities gobbling up Bitcoin’s minted supply , long-term holders have reached new highs versus short-term holders , something not seen since July 2023. In addition to the solid long-term holder ratio, short-term ho...

Author: Justin Sun Editor:  WuBlockchain Foreword: This is a Chinese article published by TRON founder Justin Sun in 2021, describing why Chinese entrepreneurs and businessmen are more short-sighted, hoping to make more profits in the short term. In 2022, Justin Sun acquired Huobi and is starting a new journey in his career. As a well-known and controversial person in marketing, Justin Sun rarely publishes such profound and critical articles, so we translated into English to help readers gain a deeper understanding of China and Asia. https://www.trzrb.com/chain/7068.html Justin Sun, the founder of TRON, posted on Weibo, " China's Internet has no long-term ism" on July 28, 2021, which triggered widespread communication in the community. The following is the full text of the article. China's Internet has no long-term ism. Originally, the life cycle of the Internet is short. In addition to the constraints of national conditions, valuable things will be destroyed at any t...