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News on Crypto Street
In the world of finance and cryptocurrency, notable figure Robert Kiyosaki has recently sounded a cautionary note regarding an impending stock market crash. Simultaneously, Kiyosaki has underscored the exceptional value proposition of Bitcoin, suggesting that now might be an opportune moment to invest in digital assets like Gold, Silver, and BTC, especially in anticipation of an imminent market downturn.
However, Kiyosaki's endorsement of Bitcoin has not been without its skeptics. Steve Miller, a seasoned stock market professional and host of a financial show, has expressed reservations about Kiyosaki's choice. Miller contends that while traditional assets like gold and silver hold the potential for appreciating in value, Bitcoin could potentially experience a significant devaluation.
Shifting gears to the cryptocurrency realm, Miles Deutscher, a crypto analyst, has made an interesting observation. He notes that the supply of Bitcoin held by long-term investors has recently reached an all-time high.
This category of investors has consistently been accumulating Bitcoin over time, and it appears that the percentage of Bitcoin held by these long-term enthusiasts is on the cusp of surpassing its previous peak.
Deutscher also adds an insightful perspective, indicating that we are currently navigating a bear market. During this phase, Bitcoin often transitions from the hands of short-term traders to those of long-term investors who are in it for the extended haul.
At the time of writing, the price of Bitcoin is valued at $27,075, reflecting a notable increase of 4.74% over the course of the past week.
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