Bitcoin on steroids, demand high amid COVID-19

Bitcoin is on a blue flame scenario, as investors increase their buying pressure at an alarming rate, amid odds anticipating for more quantitive easing if Joe Biden gets inaugurated in January.

What you should know

• Bitcoin, at the time this report was drafted, traded at $14,497.87 with a daily trading volume of $26,377,618,150.
• BTC price is up 6.3% in the last 24 hours. It has a circulating supply of 19 Million coins and a max supply of 21 Million coins.

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Tyler Winklevoss the Co-founder of Gemini exchange, elaborated on the bullish sign in the flagship crypto market, on the bias that Bitcoin breached $14,000 again and continues to show that it is the only clear winner.

More bullish signs

Meanwhile, Bitcoin miners are presently having more funds at their bank account on data that recently revealed Bitcoin $BTC Miner Revenue (1d MA) just reached a 5-month high of $716,165.65.

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The previous 5-month high of $709,664.74 was observed on 04 November 2020. That said,

• It is important to observe that long-time Bitcoin holders are increasingly holding BTC for longer periods, leading to some scarcity; thereby, pushing prices as retail traders rush to own a stake in the most demanded crypto amid the COVID-19 era.
• HODLing activity by global investors has surged since March, when the price of BTC briefly dropped below $4,o00. Since then, investors have been steadily accumulating BTC.