At the present, the price of Bitcoin is steadily rising. According to reports, it’s even getting close to $55k. Furthermore, Anthony Pompliano’s previous tweet regarding holders controlling 85 percent of BTC in circulation might be the cause.
Pompliano claims that roughly 85 percent of BTC has not changed, as stated in his tweet. This implies that diamond owners or holders are not currently trading or selling their BTC. It’s ‘crazy,’ according to Pompliano, since it also suggests that people are taking Bitcoin more seriously than they have in the past.
Moreover, this substantial decrease in BTC’s circulating supply might have a big beneficial impact on its total price. If holders do not sell or trade their BTC, the price of the digital currency might skyrocket. Because there are no shorts, the BTC community may predict a price increase.
The cryptocurrency Twitter community reacted favorably to the news. Some acknowledged that it is a fascinating phenomenon, while others concluded that BTC is currently bullish due to these investors.
BTC has gained about 6.13 percent in the previous 24 hours at the time of writing. BTC is now trading at $54,768.44. Analysts think that BTC will continue to fly to the moon based on the recent price increase. BTC is gaining popularity among crypto fans, and given its current performance, it’s easy to understand the reason.
Bitcoin is being hoarded by cryptocurrency miners
Digital currency miners are sticking onto their newly produced currencies to boost their balance sheets, with bitcoin rising above $55,000.
Cryptocurrency miners like Riot Blockchain and Marathon Digital Holdings have just released monthly production reports showing that they maintained their mined bitcoins during September when values were hovering around $40,000.