This time, the $ 10,000 movement in Bitcoin is differentBitcoin has climbed over $ 10,000 today. The largest cryptocurrency had also seen this level in May and June, but now it seems to have a different basis.
Bitcoin has hit the $ 10,000 mark for the first time since early June today. The leading cryptocurrency touched 10 thousand 200 dollars on Bitstamp. Bitcoin, which has been withdrawn a little, is trading at exactly $ 10,000 during the minutes of the news.
Bitcoin has reached the resistance level up to the peak level in 2017 as it reached 10 thousand dollars. Continuing to remain above this resistance will be decisive for the continuity of the upward movement.
On the other hand, 10 thousand dollars seems to have a different basis this time. According to the latest data shared by crypto research and analysis company Glassnode, this time there was no increase in the Demolished Bitcoin Days indicator, unlike previous movements, where the price rose to $ 10,000. Even the price decreased to 10 thousand dollars while walking.
What does this indicator created by a Bitcointalk user in 2011 mean? The aim is to achieve the actual transfer value volume. For example, you have 100 BTC and you haven’t moved it in a week. When you move to another address at the end of a week, you destroy 700 Bitcoin days. You can transfer this 100 BTC to several more addresses later. In this case, although the total transfer value is large, the number of Bitcoin days destroyed still remains at 700. The formula is simple: the number of Bitcoins is multiplied by the number of days since they last moved.
Destroyed Bitcoin Days made a big leap in May and June when the price rose to $ 10,000. This leap did not occur during today’s price movement. The current situation explains that the coins held for a long time in previous movements were converted into cash but the same thing did not happen this time.