In his recent remarks, Kraken's business development director expressed concern that leading cryptocurrency Bitcoin has only just begun.
In a recent Twitter post shared by dailyhodl, Dan Held (aka Dan Hedl) expressed his belief that 10 years after BTC was launched, the owners of the top cryptocurrency could still be considered early investors. Dan Held tweeted on the subject, “if you're reading this tweet you're still an early Bitcoin investor., ” he said.
However, Rafael Schultze-Kraft, founder and analyst at Glassnode, a cryptocurrency firm, says he supports held's claims. Schultze-Kraft transfers data from the blockchain data platform, which compares bitcoin's market size with gold, U.S. Treasuries and the global money supply, and uses the following statements::
If you're wondering how early investors we were in bitcoin, take a look at the relative market size.
In addition, according to the latest data from CoinMarketCap, the market size of the leading cryptocurrency currently stands at approximately $ 165 billion. Furthermore, BTC has shown a nice recovery, although it has not fully recovered from the economic downturn caused by COVID-19, and has risen by 24% since January 1.
Glassnode says overall market sentiment is on the rise at BTC and on-chain activity has increased significantly in recent weeks. The firm said in a statement: “on-chain fundamentals, along with Price, are also reaching pre-decline levels. January March February saw a significant increase in on-chain activity and those rates fell in March but are now returning to previous levels... the increase in the number of BTC sent per transaction shows that activity is being driven by larger investors rather than investors and market opportunists., ” he said.