Bitcoin Supply Shock!

A recent report by Kraken Intelligence shows Long-term Holders of BTC and Miners refusing to sell block rewards are the likely cause of BTC hitting a new all time high this month. Reporting states that “Little profit taking”  and those that did; did so on “a relatively modest amount of profit,”. 

It really is a lesson in basic economics, decreased supply and increased demand causes prices to rise. This is exactly what we are witnessing with Bitcoin.

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