A recent report from cryptocurrency and blockchain analytics firm Glassnode indicates who is looking to hold Bitcoin and those opting to sell. According to the data, it seems that Bitcoin miners are the ones more likely to store Bitcoin but long-term investors are selling to take profit.
While January might have seen sell-offs from miners, the behaviour has shifted in trader activity significantly. As per the report, miner’s selling has taken a dip which could indicate a bullish sign for the cryptocurrency market. Miners typically sell to cover the cost of operation, but they could be storing Bitcoin to take future profits.
Bitcoin bullish after Tesla investment
The timing of the change in behaviour aligns with Tesla’s $1.5 billion USD investment in Bitcoin, but could just be a fresh shift towards holding because of bullish prospects in the market. According to Glassnode:
“After a period of increased miner distribution during the rally and subsequent consolidation throughout January, miners have actually eased off their sell pressure this week. This suggests that miners have either completed adequate sales to cover costs, or could also mean they see Tesla’s vote of confidence as fair reason to keep a strong grip on their treasuries.”
When Tesla invested in Bitcoin, Bitcoin saw a monumental 18.5% increase over 24 hours, gaining over $7,160 USD on top of its already rising price. At present, Bitcoin is trading at just under $49,000 USD with a 61.25% dominance over the market.
The post Bitcoin HODLers are selling while miners are storing appeared first on Coin Insider.
Many people make the mistake of investing blindly with the belief that it will automatically lead to wealth creation. Investments are just an intermediary tool for earning more money. Investments are meant to earn you more money, not to blindly accumulate money. To really invest successfully, there are some things that you need to take into consideration before you jump right into it. The following are tips to guide you to earning money and spending wisely.
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Diversification Key Takeaways for Smart Money Investors
Many people make the mistake of investing blindly with the belief that it will automatically lead to wealth creation. Investments are just an intermediary tool for earning more money. Investments are meant to earn you more money, not to blindly accumulate money. To really invest successfully, there are some things that you need to take into consideration before you jump right into it. The following are tips to guide you to earning money and spending wisely.
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First of all, an investor may not necessarily know where to start when it comes to investments. There are two main types of investment: savings and investment. Savings is for investing in order to earn a profit, while investment is for a long-term goal, such as retirement or building up wealth for the long term. An investor may choose to start with investment, and slowly work his way towards savings since this type of investment takes longer to see profits. But in most cases, it is better to start with saving as your main investment strategy, since it is more sure to generate bigger profits.
If you don’t have much money to invest, then you can always start with mutual funds. Mutual funds are groups of stocks or other assets which are bought and sold in a transaction known as the M&A. When buying an investment fund, start by finding a brokerage that offers a range of m1 finance products and services that you would be interested in. The most common products are m0re invests and bond investing. Find a brokerage firm that has a good reputation in the market.
There are also several investment options that you can choose from such as stock investment, real estate investment, bond investing, commodity investments, and other short-term assets. Choose your investments carefully so that you don’t end up losing everything if the market goes down. It is important to invest for the long-term so that you can get good returns. It is best to diversify your portfolio by investing in different asset classes. Diversification helps to minimize risks and ensure that you don’t risk too much of your capital in just a few months or years when the market goes down.
If you want to make money by using your investment funds, then you should diversify your asset mix. Diversification will keep your losses to a minimum and increase your chances of success. In addition, you can use an appropriate fund mix that suits your goals. For example, if you have bonds as your main savings account and want to make money by investing in equities, you can buy stocks or bonds. Investing in all three at once will make you a lot more money.
An investor can also lend money through savings accounts. The interest from these types of investment accounts is tax deductible, however, and lending money to friends and family is a great way to save. Make sure that the person you are borrowing from has his own savings account and has enough spare cash to repay the loan when the investor graduates. Before you decide to lend money to friends and family, check out different options available to you.