There are a number of different metrics analysts use to determine the health of the Bitcoin ecosystem. Hash rate and transactions are two of the most popular metrics to derive the health of the Bitcoin ecosystem but distribution (addresses) can also be used to determine adoption rates. Bitcoin in late 2017 surged from meagre price levels to a high that is calculated in percentage amounted to 400 percent an all-time high which gave him the nickname the king of crypto. This entire rise in the price of the Cryptocurrency took only three months. Though time has gone by and the Bitcoin ecosystem is still there in the market mainly because of the faith the investor has had on them this year also has seen a rise of around 170 percent from the start. As in the case of other financial products like stocks and bonds or in that case any other asset the price of the product never stays still as investor trade and exchange the products by buying and selling them according to their needs.
Image source: bitcoinist.com
Bitcoin ecosystem is the same as other financial systems which have their own respective exchange and it also follows the principles of supply and demand that determine the price levels in the market. The price patterns never a follow a constant pattern so it stands for the Bitcoin ecosystem as prices usually move around in cyclical patterns. Though the Bitcoin asset has started this year in high with a price rise, the crypto analyst is anxious about the next bull cycle and how long will it take to see an upward movement in prices which is yet to take place. The market cycle from boom to bust to bust appears to be extending with each one taking more time than the previous.
Source: News BTC
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