Editor's Note: This article comes fromStar Media STARMEDIA (ID: Star_Media1), Author: Xianyu, reproduced by Odaily with authorization.
Star Media STARMEDIA (ID: Star_Media1)
Star Media STARMEDIA (ID: Star_Media1)
, Author: Xianyu, reproduced by Odaily with authorization.
Bitcoin is expected to usher in its third halving on May 11, with issuance dropping from 12.5 BTC every 10 minutes to 6.25. The price has also soared nearly 20% in recent days, breaking through the $9,000 mark for the first time since late February, as excitement over the halving is running fast.
The younger generation has become the "new force" of currency speculation
It has been more than ten years since Bitcoin was born, but compared to other financial assets, Bitcoin is indeed a young person. Among the current blockchain practitioners, post-90s and post-95s also account for a large proportion. The Global Blockchain Business Council recently conducted a joint survey and found that the vast majority of Bitcoin holders are young people. According to the survey results, 71% of Bitcoin holders are men, and more than half of them are millennials, mostly between the ages of 18 and 34.
Young people have their own unique love for cryptocurrencies, and their acceptance of Bitcoin is significantly higher than that of the older generation.
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Houlang boosts the "recovery" of the currency circle
1. Non-zero wallet holdings
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Rising number of non-zero balance Bitcoin wallets Source: Glassnode
The increase in the number of wallets also shows that Bitcoin chips are gradually being distributed to retail investors. People used to worry about the wealth accumulation of whales (large currency holders) because these whales may buy and sell bitcoin in large quantities, thereby manipulating price movements in the market. However, the growth in the number of non-zero balance wallets shows that retail investors are actively investing in Bitcoin.
2. Acceptance and legitimacy of Bitcoin
The biggest difference between this halving and the previous two is the global acceptance of Bitcoin. At the time of the last bitcoin halving, most people in the world didn't know what "digital gold" was, and even after a lot of media attention in 2017, they still thought bitcoin was an internet bubble.
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These factors all give more significance to the upcoming halving event. While the debate over bitcoin’s price may linger, it is growing in importance as a decentralized financial instrument.
3. Cryptocurrency Market Cap
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From 2013 to 2020, the source of changes in the market value of cryptocurrencies: Yingwei Finance
Market capitalization ratio Source: Hot Wheels Community
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As can be seen from the above figure, the market value of the encrypted world at its peak only accounted for 0.99% of the total social wealth, 1.24% of the US stock market, and 10% of the gold market value.
According to statistics, as of March 4, the total market value of cryptocurrencies was 257.7 billion US dollars, and the market value of Bitcoin was 156.7 billion; the total market value reached 732.8 billion US dollars during the bull market at the end of 2017 (data source: Yingwei Finance);
