Hariharan Natarajan
@cryptohari
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The Week On-Chain 50, 2024
Bitcoin’s journey from the Genesis Block to $100k per BTC is a historic moment and a new high watermark in adoption. With 19.8M BTC mined, $131T in transfer volume processed, and 1.12B transactions, the $100k price milestone is yet another sign of Bitcoin's resilience.
Executive Summary
- The Bitcoin price crossed the $100k mark for the first time on 5 December, after 5,256 trading days, and hitting a market cap briefly exceeding $2 Trillion.
- Miners have earned a cumulative $71.49 Billion since inception, reflecting the network's robust security and economic incentives.
- The network has processed a total of 1.12 Billion transactions and settled $131.25 Trillion in transfer volume, with entity-adjusted figures providing an even clearer view of genuine economic activity.
- A breakdown of supply held by various cohorts highlights a broad distribution of Bitcoin ownership, ranging from retail investors to institutional-scale holders.
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🌟 Today's Recommendation: Nikkei 225
Nikkei 225 index.
📈 Uptrend:
From a technical perspective, the Nikkei 225 index has been in a long-term upward channel in recent years, especially against the backdrop of global economic recovery, the index has repeatedly broken through key resistance levels and formed a relatively stable upward trend. If technical analysis shows that the index is above a strong support line, and indicators such as the relative strength index (RSI) and moving average (MA) send buy signals, it indicates that market sentiment is optimistic and technical support for further gains. 📊📈
⚖️ Support and resistance levels:
If the current price is close to an important support level and the support below is strong, this can be used as a reason for a technical buy. In addition, if there is a pullback after breaking through a key resistance level, but the price remains above the resistance level, it means that the market may be in a consolidation phase, which is a good time to l… 0 reply
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