Bitcoin's Longest Ever Streak Above $10k

Plus hard forks in the wake of a big attack on Kucoin

Happy Monday, Blockfolians

The Lede

Sometimes, a tweet says it all.

In all seriousness, this is a great milestone. Check out CoinDesk’s chart showing the other high points.

btc-days-above

This stat does two things:

  • First, it shows that bitcoin is able to remain stable in periods of an extreme lack of clarity in the markets as a whole. That’s confidence inspiring for those on the sidelines.

  • Second - and speaking of confidence inspiring - every time bitcoin achieves a new price floor that is higher than the last, it increases the conviction of long-term holders , who then reinforce that price floor by buying any time BTC dips below it.

See the beautiful feedback loop?

Enjoying Blockfolio’s Market Refresh? Sign up to have it delivered every day.


Highly Relevant Reading


Community Commentary

Is the future of DeFi in structured products?
Uh oh, seems like some think the Kucoin hack was closer to $280m

A Really Big Number We Should Be Paying Attention To  

$9M

That’s the size of Bitwise’s bitcoin fund - more than double this year, thanks to investor concerns around post-monetary injection inflation


Final Thought

See, it’s not just crypto that does wacky speculative financial engineering things.