People debate a lot on whether or not bitcoin has been great over the years, it sure proves how measuring growth, developments and scaling via coin market price can be misleading, especially when backend instances are never taken into consideration. I could remember a certain individual that slammed bitcoin in its past setbacks below the $5 price value, the same fellow regretted his actions in the days of $69k bitcoin.
I really wonder why people didn't realize bitcoin was such a pussy hungry for some you know what at this price range. I mean don't you all see the figures "69" and we all know what happens when you engage in such activities, you goan definitely go weak before you recharge, I call the recent phase a "sex rebound"
I said it first, and thankfully hive will help me record that…
However, we're not going to take a look at bitcoin's activities pricewise. As clearly seen, it's still well above 30,000% gain if we're looking back to where this all started!
The USERBASE…
Now, this says a lot about any economy of the world and if we look at bitcoin, we're talking millions of people, more than 40,000,000 million addresses with almost a million active. Now, with such pace, it dominates the entire cryptoverse with its userbase. If we're looking to rate how decentralised it's token distribution is, then I suppose the 13% share of all top 100 holders does that job for us. The top bitcoin holder of more that 200k isn't even controlling 2% of the supplies, that shows some good signals long term…
I know a couple of debates has risen a few times on the coins getting into centralised hands, but nah, this says a whole different thing, I mean you don't even need to worry if one person owned 10% of the entire supply, but this is barely 2% and that's a big win…
Now, this complements the first data because it's show a bit more on the network's value via coins ownership. So apparently, 60% are still in profits, 56% have held bitcoin for more than a year, and just take a look at that transaction's demographic, it's pretty spread and that means bitcoin is not operating in a single region but it's going global, that's a big process on the trade and adoption level.
When we look at countries making and looking to make bitcoin a legal tender, we don't seem to see a problem with it because bitcoin is already recognised by the masses scattered across. The uncertainty whether or not bitcoin can become a reserve currency may actually be fed with a big reality that it phases through and becomes the heart of global trade. I mean there's a lot of developments even though not exactly on the main chain, these numerous bridges would expand and help it grow in its utility and recognition, that's very possible looking at its demographics…
Evergreen Grades? A looks pretty functional…!
Bitcoin has built a standard over the years and with the roll outs of numerous crypto projects, bitcoin's dreams to fuel an economy that is permissionless yet fully functional is on the marks. The fomo rates of institutions and big techs is an example of how much of an urgency it is to move into the crypto space and embrace it's solutions. The prices look and feel bearish but large transactions have dropped to 0.07% and that means there's a cold and indecisive market. My guess is that there could(will) be a run up at some point soon™. Even while looking through a monthly chart, you'd realise it has bleeded enough and it's time to take itself back to the skies… maybe the actual bull market is this year, and the bear starts next? Only one way to find out…