The Currency Analytics
By Steven Anderson
Bitcoin (BTC) in Dark Net Transactions
Reportedly, Bitcoin Whale clusters are establishing the belief that $10,000 range is a strong support level with further bullish trend on the card.
For those who are not familiar about whale clusters, it is a trend where investors accumulate Bitcoin and do not spend their holdings for quite a long period of time.
The market sentiment is positive for Bitcoin and it just looks like the Bulls have won. Also, the price of Bitcoin is now acting independent of the price of Gold.
Sydney Ifergan, the crypto expert tweeted: “Bitcoin (BTC) sentiments get positive with volatile swings and profits in the cryptocurrency space.
Bitcoin is looked at as an opportunity to store value, just like with gold. The trend of investors shifting their money from the equity market to invest in Bitcoin is trending.
The price spikes are interesting, but from the energy consumption point of view, BTC is not as attractive.
Carbon emissions are an environmental nuisance. Unless there are due energy efficiency practice are in place, in terms of environmental safety, BTC is a threat.
The questionable nature of transactions in the Dark Net and BTC being used for such transactions is also a matter of concern.
Reportedly, Bitcoin’s market value is mainly associated with large core of illegality which puts a big question mark in the ethics of investment in it or in any other anonymous…
Despite the potential of the blockchain technology to improve several industries cannot be underestimated.