Let’s get to the point.!Â
What does this Report mean?
A Dutch institutional investor, named ‘Plan B’ on Twitter ran a poll to know how people are viewing Bitcoin, the decade-old cryptocurrency. The poll had four options ‘Holding bitcoin, buying Bitcoin, selling bitcoin, and not having a BTC position.
What’s the Result of the Poll?
The result of this poll reveals that around 65.6 percent of people are holding Bitcoin. The total number of votes on Poll was ‘13813’ in which around 18.3 percent marked that they are buying Bitcoin while 3.9 percent voted as ‘selling bitcoin’. The final option ‘Not having Bitcoin’ marked at 12.2 percent.Â
What’s the TakeAway?Â
Plan B on his Twitter account has over 116K followers. While most of the tweets are advocating Bitcoin, it's quite surprising to see that around 12 percent of them don’t even have a BTC position. However, Plan B didn’t comment on this, rather he elaborated his concern over buying and selling ratio and added;Â
“Buying to selling ratio = 4:1 .. should result in higher prices, but sellers are obviously not among my followers… Sellers indicate they are trading or selling bitcoin to buy altcoins to get more BTC.â€
On the other hand, Plan B believes that the price level of Bitcoin is exactly at the same level as it was on 27 November 2017. He marked this data as ‘for historical purposes only’, adding that it took 20 Days to go to $19K.Â
What’s the Current Value of Bitcoin?
Bitcoin on July 13, 2020, is quietly surging by 0.03 percent with the trading value counting at $9274 against USD. The total market capitalization of Bitcoin is currently valuing at around $170 Billion.Â
Considering the buzz of ‘alt-season 2020’ spread across the web, what’s your take on the next move of Bitcoin? Let us know in the comment below.Â