Cryptocurrency expert Willie Wu says that bitcoin is rising in price. He also thinks that most altcoins are going up in price too. And there are a lot of people joining the bitcoin market for the first time who buy it when its price is lower, because they have a good chance to get it at a good price.
A key to reading this chart is to know that BTC user count has roughly doubled every year since inception a dozen years ago. So the 2021 peak is expected to end at levels MUCH higher than the 2017 peak. Under this trend, we are just warming up. – Willy Woo (@woonomic) May 24, 2021
He said that the number of bitcoin users has doubled every year for 12 years. It is now at the same level as it was after the last peak in December 2017.
It’s worth noting that the market is sending some really positive signals. For example, according to Glassnode, bitcoin outflows from cryptocurrency exchanges are now quite significant. Not surprisingly, at the beginning of May 25, bitcoin is trading at $38,500, moving away from the low of $32,000 seen on May 23.
Massive outflows of #bitcoin from exchanges. Bullish pic.twitter.com/Cjtk9PR6aj – marc friedrich 🟠 (@marcfriedrich7) May 24, 2021
Analysts are noting that people made a lot of stabelcoins. There were 8 billion in dollar equivalent last week. That was a record! Elon Musk said that people should try to make the most of electricity coming from renewable sources.
Spoke with North American Bitcoin miners. They are committed to publish current & planned renewable usage & to ask WW miners to do so. Potentially promising. – Elon Musk (@elonmusk) May 24, 2021
Investors have been buying more and more bitcoins.
Against the backdrop of recent cryptocurrency events, many investors have turned their attention to HDD mining, especially to such a reliable cryptocurrency as Burst. Compared to other coins, Burst shows a strong and stable growth dynamics.
Burstcoin is not only digital money, but also a convenient payment system. The cryptocurrency was released on August 10, 2014 on the most authoritative crypto-forum bitcointalk. Interestingly, its presentation was not preceded by an ICO or IPO.
The digital coin is a hardforward of NXT and is based on that platform. However, unlike the main coin, the creation algorithm is significantly different. It is called POC (Proof of Capacity) and the mining process uses free space on a PC’s hard drive instead of the more popular, complex and energy-consuming computational calculations.
Compared to mining other cryptocurrencies, the energy requirements for mining burstcoin are small, making it not only very popular, but energy efficient. And the blockchain platform provides development flexibility. Interestingly, due to this model, this crypto was the first to implement smart contracts – “turing-full”. Incidentally, like Qora, Burst was one of the first to implement ACCT technology. This allowed for large-scale trading, and transactions were possible without third-party sources – exchanges and exchanges.