Bitcoin Mining Ratio Increases When Bitcoin Price Falls
2024-08-12Bittime - In the last few weeks, Bitcoin price movements have returned to the spotlight. One area of concern is Bitcoin's 30-day minting ratio, which indicates new activity in minting tokens.
Ratio Minting Bitcoin
According to Matrixport, Bitcoin's 30-day minting ratio showed a significant increase after Bitcoin's price experienced a sharp decline at the start of last week. This indicates that despite outflows from spot Bitcoin ETF funds, some investors are taking advantage of the situation to buy at low prices.
This pattern is nothing new in the crypto world. Many investors use the “buying on dips” strategy as a way to diversify their portfolio by purchasing tokens at lower prices, in the hope that the price will rise again.
This increase in the minting ratio suggests that there is an influx of new fiat currencies into the crypto market, which could be a sign of investor confidence in Bitcoin's potential rebound.
Also Read: The downward trend in Bitcoin prices is similar to the trend before the 2016 bull market
Federal Reserve Policy
One of the factors too influence Investors' decisions to make purchases amidst falling prices are expectations of the Federal Reserve's monetary policy.
Many predict that the Federal Reserve will cut interest rates in September, which could provide a positive boost to the prices of risky assets like Bitcoin.
In this way, some investors took an early position by making purchases when prices were still low, in anticipation of the potential price increase that was expected to occur after the policy announcement.
The Impact of Bitcoin Minting Increases
This increase in Bitcoin minting ratio and buying activity amidst falling prices has had a positive impact on the overall crypto market. This shows that despite short-term volatility, there is still strong confidence from market players in the long-term prospects of crypto assets, especially Bitcoin.
Additionally, increased minting activity can also contribute to the stability of the crypto network itself. With more tokens staked through the minting process, the network can become safer and more decentralized, which is one of the main goals of blockchain technology.
Also Read: Bitcoin Price in Q4 2024 Predicted to Strengthen
How to Buy Crypto with Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
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