According to the London cryptocurrency custody company Copper.co. According to a recent study by, Bitcoin’s recent price increase is the result of a steady increase in demand for Bitcoin and increasing scarcity of Bitcoin.It is estimated that by 2140, this cryptocurrency will reach a maximum supply of 21 million. The researchers also found that North America, especially investors in the United States, are most interested in newly mined Bitcoin.
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So far, the number of bitcoins that have been mined in the world is approximately 18.625 million, but a considerable part of them has been lost.
According to Copper estimates, currently 56% of bitcoins are held by investors, 18% of bitcoins have been lost, 15% of bitcoins are held by so-called traders, and the remaining bitcoins have not been mined.
Copper said that since most bitcoin holders (80%) are long-term investors, they will not easily sell their bitcoins, and interest in this digital asset is rising, which may have a huge impact on its price. influences.
Copper also discovered an interesting phenomenon. Nearly one-third of Bitcoin trading volume occurred during the opening of the New York Stock Exchange. Investors should pay attention to the trading of the Dow Jones Industrial Average and the S&P 500.
So many bitcoin transactions occur during the trading hours of US stocks, that is, between 9:30 am and 4 pm, which may explain why the trend of the S&P 500 index is sometimes regarded as related to the price of bitcoin.
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