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The price of bitcoin fell sharply last week: a 21% decline in a week hurts. Still, analysts see positive signals from many indicators.
The miners sold heavily in January, but now they are declining, this analyst sees.
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On-chain researcher Glasnote said the value of the Expenditure Release Rate (SOPR) has fallen below 1 for the first time in 5 months, which is a positive market signal. In addition, the derivative market has cooled significantly, which has brought the spot market back to strength.
Not everyone is equally interested in Bitcoin, especially some older economists who often express harsh and negative views about Bitcoin. The funny thing is, they often shout outdated things, and often wrap that negativity in unhealthy anger.
John Danielson of the London School of Economics wrote an essay that Bitcoin will be the dominant currency on Earth in the future. Bitcoin aristocrats, according to economists, are said to cause social division and populism because of the huge disparity in the distribution of wealth.
The US House of Representatives is set to approve the $ 1,900 billion bailout package. This is the first aid package of the Biden government. Everything must be done before March 14th.
Because by this date financial aid for many unemployed will expire, which will cause a lot of social unrest. Supporters of the aid package point out that many homes and companies are on the verge of exploding and really need support. Opponents wonder if support packages of this size are necessary.