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2020-11-20

Bitcoin price has been doubling since Halving

The price of BTC has more than doubled since the third prize for the Bitcoin halving block in May. More specifically, BTC has gained 110% since it was halved, and prices have risen from $8,566 on May 11, 2020 to $18,000 since then.

According to the November 19 Chainalysis report, liquidity and foreign exchange flows have changed dramatically since the halving.

The company identifies illiquid, or investor held Bitcoin, as "portfolios that send less than 25% of the Bitcoin it has ever received," while the remaining portfolios are classified as liquid Bitcoin, or investor held Bitcoin.

Chainalysis" data shows that the number of Bitcoins available to new investors began to fall early this year, while the number of illiquid BTCs increased sharply. Chainalysis estimates that the number of Bitcoins that are currently liquid may be only 3.4 million.

Yesterday, Glassnode Studio's analytical platform reported that revenue from Bitcoin extraction has returned to pre-crisis levels. The day before, the miners had earned a record daily revenue of USD 21.2 million a year earlier, about three times more than immediately after being halved.

However, before Bitcoin Maxis became too excited, it is worth noting that the price of ether was much higher than Bitcoin in the same period, rising by more than 160%, from 185 to 482 dollars from May 11.