Demand for Bitcoin Highest Since March 2017

The interest for Bitcoin is now in its highest moment since March 2017. According to data from TurtleBC, there is currently more demand for Bitcoin than supply. And that can only mean one thing: higher Bitcoin prices.

Bitcoin Interest Highest in One Year

It seems that the market has reached the bottom and cryptocurrencies are starting to grow once again. The exchange HodlHodl has released an inform in which they explain that 90% of the orders on crypto exchanges are people trying to buy Bitcoin. While just 10% of individuals are trying to sell. 

HodlHodl explained:

“Ninety percent of the all the order on exchanges are people trying to Buy Bitcoin & ten percent of all orders on exchanges are people trying to sell. Effectively 90 people are trying to buy 10 people’s worth of Bitcoin. Indicating there is more demand for Bitcoin than supply.”

This data is very important to understand where the market is headed and what we can expect in the coming months. Since the beginning of the year, we have seen virtual currencies experiment a down trend that made nervous new comers and other individuals. But things may change in the near future.

The market has already reacted. It has recovered more than 30% since its lowest point this year, and some experts are predicting new highs by the end of 2018. Some other crypto enthusiast say that Bitcoin could reach incredible numbers ($250,000 – $1,000,000) in the next years.

Of course, when Bitcoin starts growing, other virtual currencies follow. So the overall market capitalization of cryptocurrencies may also reach new highs this year. New ICOs and tokens have been appearing in the market and some of them have been incredible profitable.

Financial institutions, important investors and other individuals are starting to place their bets and prepare for the next bull run in the crypto markets.  As we wrote at UseTheBitcoin Time Draper has predicted that Bitcoin will reach $250,000 dollars by 2022. That’s the reason why he is preparing his trading and hodling strategy for the next couple of months.

Source: Read Full Article