Here are bullish and bearish scenarios for BTC Bitcoin $BTC Crypto
At the time of publication, BTC was changing hands at $19,327, marginally up in the last 24 hours. While periods of extremely low volatility for Bitcoin are very rare, there have been instances in the past in which prices have violently broken either higher or lower. Glassnode presents the bull and bear argument for Bitcoin, particularly from an on-chain angle.
In a similar vein to November 2018, the growth rate of addresses with a nonzero balance has likewise plateaued since August. This shows that even while there are over 400,000 new addresses added each day, an equal number are also having their entire balances drained.Hashrate and difficulty have recently reached new all-time highs. This drives up the cost of producing BTC. Miner hash revenue and mining hash prices have hit all-time lows, indicating miner stress.