So far in the fourth quarter, bitcoin shows an appreciation close to 10%.
Bitcoin continues to come off the exchanges and is at February 2018 levels.
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The price of bitcoin has remained fluctuating around $ 47,000 after the 20% drop that it registered on December 4. So far, the price decrease in December has been 18%, although in the last quarter of the year, bitcoin shows an appreciation of 9.40%.
Despite a significant price decline since November, the notable performance of bitcoin in October could keep the last quarter of the year in the green. Large price fluctuations have not prevented bitcoin from ending 2021 with a 60% appreciation since the beginning of the year.
At the time of this writing, bitcoin is trading at $ 47,232.99 according to the CriptoNoticias price index.
Last Wednesday, December 15, the announcement of the Fed’s measures in the United States to try to contain inflation, pushed up both the price of bitcoin and traditional assets, as reported by CriptoNoticias. The Fed announced an acceleration of the aid cut, which could set the scene for an increase in interest rates in 2022.
BTC on exchanges hit year lows
Despite the bitcoin price correction that started after the all-time high of almost $ 69,000 on November 10, there are indicators that are not bearish. On December 17, CriptoNoticias commented on the continuation of the decrease in BTC inventories of exchanges, which reached 13.2% of supply, a minimum value for this year.
The last time inventories reached 13.2% was on February 4, 2018, and it returns to that value 3 years and 10 months later. The big difference between the two dates, where the supply percentage reaches 13.2% is bitcoin’s market capitalization: $ 116 billion in February 2018, compared to $ 872 billion today.
Featured Chart of the Week
In the curve that reflects the average of the price of bitcoin of the last two years, levels of the quotation that are predominantly below the current price of BTC are reflected. This situation ceases to occur in bearish regions, when the price of bitcoin bottoms out.
In this graph, multiply the values of the 2-year moving average curve by 5 to obtain the upper curve. The current price curve intersects this upper curve around the historical highs of 2013 and 2017. When the price is above the upper curve, the beginning of the bearish phase of the 2013 and 2017-2018 cycles is marked. In the current cycle, the price has not passed the upper curve, so it can be inferred that the top of this cycle has not been reached.
83% of millennial millionaires own bitcoin
A CNBC poll, commented on by CriptoNoticias on December 17, reflects that 83% of millennial millionaires in the United States own bitcoin and other cryptocurrencies. Furthermore, the majority of this 25-40-year-old segment claim that they will continue to buy bitcoin in 2022.
Of the so-called Baby Boomers, who are between 53 and 72 years old, only 4% own bitcoin, the smallest percentage of the studied segments. In Generation X, on the other hand, in the age group between 41 and 52, the proportion of those who own bitcoin reaches 25%.
Half a million bitcoin wallets are used daily
Based on new metrics developed by Coin Metrics to better understand the use of bitcoin, discussed by this medium on Saturday 18, that analytical firm revealed that the daily average of active bitcoin addresses last week is 1 million, while there are some 500,000 active bitcoin wallets daily, on average.
The number of bitcoin wallets, Glassnode clarifies, does not correspond one-to-one with users, as there are significant groups of wallets that are under the control of exchanges, gambling sites and other large users.