Exploring Bitcoin’s Recent “THE BITCOIN MONTHLY” Report by Ark Invest

04/05/2023 14:51 • Blockchain Buzz • 128 views

According to reports, Ark Invest released a monthly report on Bitcoin called “THE BITCOIN MONTHLY”, which showed that the settlement amount of Bitcoin in March reached $650 billion, with a transaction volume of about 9 million transactions. At a stable and predictable 1.8% “inflation rate”, about 26000 new BTCs were added, and about 13 million new on chain addresses were added. It also created about $700 million in revenue for miners who ensure network security. In March, Bitcoin prices rose 22%, outperforming bonds and gold, becoming an important safe haven to avoid bank bankruptcy risks. In addition, Bitcoin prices closed above the 200 week moving average ($25400) for the first two consecutive weeks since August 2022.

Ark Investment: Bitcoin settlement amount reached $650 billion in March

As the popularity of cryptocurrencies continues to grow, more and more people are becoming interested in Bitcoin. Recently, Ark Invest released their monthly report on Bitcoin called “THE BITCOIN MONTHLY”. This report showed that the settlement amount of Bitcoin in March reached $650 billion, with a transaction volume of about 9 million transactions. Let’s dive into what this report means for Bitcoin investors and enthusiasts.

The Bitcoin Market in March

According to “THE BITCOIN MONTHLY” report, the Bitcoin market had an impressive March. The total settlement amount of Bitcoin in March amounted to $650 billion. This is a huge number and it shows that there is a lot of money flowing into the Bitcoin market. Additionally, there were about 9 million transactions conducted in March. This is a huge number of transactions and it shows that there is a lot of activity on the Bitcoin network.

Inflation Rates and New BTCs

According to the report, Bitcoin has a stable and predictable 1.8% “inflation rate”. About 26000 new BTCs were added in March. This means that there is a steady increase in the number of BTCs in existence. However, this inflation rate is predictable which makes investing in Bitcoin less risky compared to traditional currencies or other financial instruments.

New On Chain Addresses and Mining Revenue

In addition, the report states that about 13 million new on chain addresses were added in March. This is a huge number and it shows that more and more people are becoming interested in Bitcoin. Additionally, the report states that miners who ensure network security made about $700 million in revenue in March. This shows that Bitcoin mining can be a profitable activity.

Bitcoin vs Bonds and Gold

The “THE BITCOIN MONTHLY” report also showed that in March, Bitcoin prices rose 22%, outperforming both bonds and gold. Bitcoin has quickly become an important safe haven asset to avoid bank bankruptcy risks. This is because it is a decentralized asset that is not controlled by any government or financial institution. This makes it more resistant to market crashes and other economic shocks.

Value of Bitcoin

Finally, the report states that Bitcoin prices closed above the 200 week moving average ($25400) for the first two consecutive weeks since August 2022. This is an important milestone because it shows that Bitcoin is a valuable asset that is gaining popularity among the general public.

Conclusion

In conclusion, “THE BITCOIN MONTHLY” report by Ark Invest shows that Bitcoin had an impressive March. The settlement amount of Bitcoin in March reached $650 billion, with a transaction volume of about 9 million transactions. Additionally, about 26000 new BTCs were added, and about 13 million new on chain addresses were added. Investors and enthusiasts alike should take notice of these statistics as they show that Bitcoin has a lot of potential. With more and more people becoming interested in Bitcoin, it is likely that its value will continue to rise.

FAQs

1. What is the “THE BITCOIN MONTHLY” report?
– “THE BITCOIN MONTHLY” report is a monthly report released by Ark Invest that covers Bitcoin and its market movements.
2. What is the inflation rate of Bitcoin?
– According to the report, Bitcoin has a stable and predictable 1.8% “inflation rate”.
3. Why is Bitcoin considered a safe haven asset?
– Bitcoin is considered a safe haven asset because it is a decentralized asset that is not controlled by any government or financial institution, making it more resistant to market crashes and other economic shocks.

This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/13396.htm

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.