Bitcoin: Demand explodes and exceeds miners' production
There is so much demand for Bitcoin that it's causing big problems. In fact, buyers are rushing into this flagship cryptocurrency at a much faster rate than miners can make it. Some people worry about a bubble, but the numbers show a clear trend: buyers are buying Bitcoin very quickly. In this situation, it's important to know what's really going on in the market and why buyers are buying five times as much as miners are making.
Some experts say that bitcoin's demand is falling, but in the past few weeks it has become the star of cryptocurrencies, or rather the circus animal that everyone is fighting over. For good reason, buyers are buying bitcoin at a crazy speed—five times faster than miners can make it.
A number that might make even the bravest investors feel dizzy. Miners have only been able to make 14,000 BTC in the last month. This makes us wonder where buyers get their bitcoins.
Part of the reason for this is that wallets connected to centralised cryptocurrency markets (CEX) are not included. This means that investors are very protective of their bitcoins and keep them away from sales platforms. This makes the push to buy even stronger.
But be careful, because people who risk it could end up with their wings burned.
Not only a few "whales" are crazy about bitcoin. This huge accumulation has been made by all kinds of buyers, from small prawns to huge cetaceans. Why now? That's the million-satoshi question. By July, buyers were avoiding bitcoin like the plague and would rather sell than buy more.
But the trend has changed today. Since things are so tense, some people are thinking how long this buildup can last before the market turns around again.
"Investors have changed their minds, and the crypto market is now booming," an expert said not long ago.
Because of this, Bitcoin has become the sweet treat that everyone wants. But for how long? People who bet on the market are thinking if this accumulation is just a one-time thing or if it points to something bigger.
If you want to learn more about Bit coin supply and market trends, you can read this very detailed article that goes into a lot of depth.