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A Look Again At July’s Bitcoin Market

The beneath is an excerpt from the month-to-month recap by the Deep Dive, Bitcoin Journal‘s premium markets e-newsletter. To be among the many first to obtain these insights and different on-chain bitcoin market evaluation straight to your inbox, subscribe now.

Provide Reaccumulation

The overarching pattern in Bitcoin because the begin of 2020, however extra broadly, over the course of Bitcoin’s historical past, has been an rising quantity of the community’s verifiably scarce provide turning into illiquid.

The hoarding of provide, or as bitcoiners name it, “hodling,” creates a virtuous cycle of adoption, as an ever rising variety of proponents/adopters are competing to accumulate an ever shrinking free float of provide, which in flip attracts extra curious people to find out about bitcoin and the attributes which make it objectively the perfect financial asset humanity has ever seen.

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