Bitcoin is setting new records in almost all aspects except USD spot price, which suggests that the current rally is not like the bull run of 2017.
Nic Carter, co-founder of statistics resource CoinMetrics, shared nine charts that prove this theory. From wallet balances over $10 to institutional holdings and even Bitcoin spot prices in various fiat currencies, the data shows that Bitcoin is outperforming on a historic level.
PlanB, creator of the stock-to-flow Bitcoin price models, supplied one more metric — Bitcoin’s fundamental 200-week moving average.
The past few days has produced a fresh round of bullish price predictions from well-known sources who claim that $20,000 will not act as a ceiling this time around. Citibank, for example, believes the price of Bitcoin will reach $318,000 by the end of 2021.
Not everyone is sold on Bitcoin’s latest surge, however. One strategist believes the lack of publicity the digital asset is getting is proof that interest has waned.
The perspective underscores the divide between those within the cryptocurrency sphere and those outside it.
Founded in 2015, Coinchapter.com has become one of the leading resources for the crypto asset community. Created by a small group of cryptocurrency enthusiasts, Coinchapter.com was built to provide new members of the crypto asset community with unbiased listings of cryptocurrency exchanges and retail options that would allow them to buy the crypto assets that they wanted, how they wanted and at the price they wanted.