Coin Metrics has released the latest report on the Status quo in the Bitcoin network. Most important finding: The amount of stationary UTXOs is higher than ever before.
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On the 27. July 2019BTC$9.476,00 -2.99%part Facebook Twitter LinkedIn xing mail
Coin Metrics is a data-analysis company, which was founded by Bitcoin Advocate Nic Carter. With a focus on Bitcoin Coin Metrics examined different block chains according to parameters such as the Supply, still UTXOs and the Hash Rate. The company has now launched the latest Pay to BTC, ETH, XRP, LTC and BCH. The most important findings at a Glance.
Bitcoin is to the value of memory
we’ll Start with the positives: Bitcoin seems to actually be a Store of Value. Because, as Coin Metrics shows, the amount of BTC (what is meant here, of course, UTXOs) for at least five years, unmoved, high reached a new all-time high.
The amount of Bitcoin that is untouched for at least five years, high recently reached an all-time high. This may indicate that BTC is becoming a store of Value and a medium of exchange.
Almost four million Coins (21.6 percent of the total supply) have changed accordingly, for over five years, the address. Several explanations are conceivable. First, the hypothesis should not be that BTC is a store of Value, completely out of Hand. On the other hand, a considerable amount of pristine, BTC is expected to be one of the Coins, which are about gone due to the loss of the Private Keys is lost.
the Hash Rate decreases
Now for the less encouraging data. While so many BTC already saw on his journey in the direction of the all-time high, has created the reality of the facts; in the meantime, the price is consolidating in a mere 10,000 US dollars. The losses of the last few weeks have then led to a slump in approximately of the Hash Rate. In the seven days of the medium, the change in the Hash is Rate of zero percent. The measured in US dollars, Mining revenues drop by 14 percent. Also, the number of transactions decreased within the last week four percent.
The Other takes Coin Metrics of the Performance of the Altcoins under the magnifying glass. This confirms what has been hinted at for quite some time: The BTC-dominance continues to increase. Because compared to his little brothers and sisters performed a Bitcoin is above average. During BTC, calculated on the month only Minus two per cent growth is coming from cutting the Altcoins significantly worse. Ethereum is about rate recorded losses of 28 percent, Litecoin by 32 percent, and the EOS-rate drops as much as 44 per cent expected a month.
the Macro-view is true bullish
finally, the report provides an Outlook on the macroeconomic environment. The four large Central banks (FED, ECB, Bank of Japan and the people’s Bank of China), were reductions from further interest. This is likely to indicate a forthcoming global recession. For Bitcoins growth, according to the authors, is the tendency for good news.
Although the empirical evidence on the responsiveness of Bitcoin to changes in future monetary policy and growth and inflation are mixed expectations, should form the basis of this factor, the Bitcoin prices in the long term.
The entire paper can be found here.
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