Bitcoin & Ethereum Are Rare, Crypto Market Could Continue to Be Bullish
Crypto Analyst Reku Fahmi Almuttaqin said that the increasing preference of investors to hold their crypto assets (hodl) was due to factors such as the greening price and the increasing scarcity of several crypto assets, especially Bitcoin (BTC) and Ethereum (ETH). Currently, he explained, more than 93% of Bitcoin has been mined, and the amount of Ethereum, which usually always increases, is now decreasing due to Ethereum's transition to the PoS consensus system.
"The increasing scarcity value of BTC and ETH makes investors prefer to save the crypto assets they own. This phenomenon actually shows the optimism and confidence of investors, which can be important capital for the crypto market to undergo the next bullish phase," Fahmi explained through an official statement, quoted Sunday (12/11/2023).
