The usefulness of Bitcoin unlocking (What does Bitcoin unlocking mean)
The usefulness of Bitcoin unlocking. According to LongHash, Bitcoin unlocking h
The usefulness of Bitcoin unlocking. According to LongHash, Bitcoin unlocking has many applications in daily life, such as tools for solving various problems including transaction processing, cryptography, and cryptocurrency.
In simple terms, it refers to unlocking through Bitcoin. Bitcoin can also be used as a decentralized database to ensure security and scalability, among other things.
Bitcoin is a digital ledger generated based on mathematical algorithms. It is a distributed system composed of a specific set of programs that store data on a blockchain and allow everyone to participate in the calculation process.
What does Bitcoin unlocking mean
Bitcoin unlocking means that when the market is in a “frenzy” state, people sell their BTC. This is often understood as a sudden change that occurs after a significant price drop and market stagnation over the past 12 months, lasting for about 6 weeks starting from March 16.
According to Bitstamp data, there was a significant number of open contracts before the May expiration, the largest since mid-December 2017. Over time, these positions have been decreasing. However, due to the increase in Bitcoin trading volume and the increased demand from new investors, this trend has slowed down. A recent study shows that if the price of Bitcoin remains stable and there are no major adjustments (such as falling below $20,000), Bitcoin may continue to lose its value support. This situation has also led to speculations in the crypto community that once the market becomes overheated or more buyers enter, they will be unable to hold Bitcoin. Therefore, if the market declines again and panicky selling pressure arises, it could lead to further price drops or even larger selling behavior. (AMBCrypto)
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