As Joe Biden prepares to become the next US president, Cointelegraph Consulting is looking at how traditional assets will react to the Democratic nomination. Historically, Democrats have been optimistic about gold, as there is a general consensus that more money is printed without support under a democratic leadership, leading to further devaluation of the dollar. In the short term, Bitcoin (BTC) has already earned big money, climbing 10% since election day.
The latest Santiment results, published in the weekly newsletter Cointelegraph Consulting, indicate that the average long-term earnings of bitcoin holders have reached a 14-month high, which increases the likelihood that they will close positions and make a profit.
Realized Market Value, or MVRV, is an indicator that tracks the average profit or loss of a specific group of owners in an attempt to understand if they can sell at a profit. Shortly after surpassing $ 15,000 on November 5, Bitcoin’s 30-day MVRV – or the average return of all titles that bought BTC in the last 30 days – increased 18.8%, indicating that they are. The term was close to 20% of the return on the initial investment.
Other calculations in the series show that bitcoin whales have been accumulating BTC ahead of the last payment, which exceeded $ 15,000. The overall balance between titles, which ranged from 10 to 100 BTC, hit a 6-month low on September 20 before starting to recover and has since risen by 37,800 BTC, signaling renewed confidence in the asset.
Other news from blockchain legislation and the corporate world has revealed that one of China’s largest banks is launching new blockchain-based bonds that use token certificates. In the United States, the Securities and Exchange Commission has recorded a record year and has raised over $ 1.26 billion by 2020 from unregistered ICOs.
Read the full newsletter here for a full draft with detailed diagrams and photographs.