Bitcoin Miner Metrics Support a Continuing Bull Market | Coinscrum Markets On-Chain Reaction

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paul.seed
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Tesla announced that they have allocated to Bitcoin, which caused a real uplift in the market but also pushed volatility higher. Additionally, on-chain core activity is on the rise after institutional flows are starting to ease off, and our on-chain miner metrics suggest that we still have support for a continued bull market.

ByteTree CEO, James Bennett, hosts Coinscrum Markets On-Chain Reaction.

DISCLAIMER: This entire presentation is for informational purposes only and in no way constitutes investment advice

Coinscrum Markets YouTube Channel: https://www.youtube.com/c/Coinscrum​

More On-Chain Reaction Episodes with ByteTree: https://www.youtube.com/playlist?list=PLnGKc-D1BcsAv0W7nE_ZetnvfDeCoodPm

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Timecodes
00:00 Intro
00:22 Tesla unexpectedly allocates $1.5Bn to Bitcoin
01:04 Volatility continues to rise high in the current Bitcoin price action
01:27 Miner revenues are currently $1M away from the 2017 all-time-high
02:02 The Bitcoin halving in 2020 has not had a long-term impact on miner revenues
02:18 In the future, miners will rely solely on fees for income
03:11 On-chain core traffic is rising
04:25 The current trend in miner inventories supports a continuation of the current bull market
06:15 The current Miner's Rolling Inventory metric shows a correlating trend from the 2017 bull market

#bytetree #coinscrum #jamesbennett
Category
Bitcoin Mining
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