Bitcoin Statistics Show Gradual Fundamental Growth In Ecosystem

Positives for bitcoin fundamentally is the growth in hash rate
Crypto miners have not lost interest
Crytpo and Bitcoin Market Cap Story of Day

Crytpo and Bitcoin Market Cap Story of Day

CRYPTO MOVERS AND PRICES

 

 

CRYPTO STORY OF THE DAY

 

We Wanted To Point Out Some Recent Bitcoin Statistics That Show Gradual Fundamental Growth In The Ecosystem - In Spite Of Recent Price Fluctuations, The Industry Is Steadily Strengthening

Last week, with a series of charts based on data pulled from Coinmetrics.io, Twitter user @hansthered (Hans) drew attention to several important fundamental metrics in the space. First, the 365-day daily moving average of transactions on the Bitcoin Network has reached all-time highs. Second, 365-day moving average hash rates have also touched on all-time highs. Hans further points out that GitHub development statistics remain healthy.

Crypto Takeaway: Of the noted statistics, the exception in outright positives for bitcoin fundamentally is the growth in hash rate. While some have suggested there is gaming occurring by miners, the bottom line is, miners have not lost interest.

When we speak to clients about valuing bitcoin we refer to a gradual, rising fundamental demand curve that is generally supportive of price. Around that curve is massive speculative swings which are the result of high levels of retail participation, leverage in the space and foremost, the long lifecycle of the crypto thesis and its binary nature. Similar to the sensitivity in longer duration bonds to short term interest rates, small changes in the near term have highly magnified perceived and actual impacts on market value.

About the Author

FRNT Financial is an Institutional Brokerage which offers clients a variety of products along with research & analytics in the crypto-space.