On-chain data show that some long-term hodlers (LTH) actually sell with the growth of BTC / USD. According to analyst Lex Moskovsky, this corresponds to the phase “distrust“, The classic market cycle.

Moskovski raised the indicator of long-term hodlers – spent output profit ratio (LTH-SOPR), which reached its lowest level in 2021 this weekend.

SOPR focuses on the value of coins moving in a specific period of time to get the impression of profitability of coins sold. The decline towards a neutral value of 1 indicates that the profitability of the relevant coins is low.

“Some long-term hodlers sell with minimal profit, as indicated by LTH-SOPR. The indicator reaches this year’s minimum for two days in a row,” said Moskovski.

BTC must end August over $ 47,000

Equally excited was PlanB, the creator of the stock-to-flow, which called the BTC July close price a revival.

#BTC July closing price $ 41,490 b it bounced from the lows, like clockwork.

Stock-to-flow currently represents a BTC price of almost $ 100,000. Although the market price is remote, the model remains valid. PlanB determined minimum close price requirement in August at $ 47,000. Otherwise, the model would expire.

Crypto ATMs are growing all over the world

Of course, we won’t get rid of the cash so soon, but the ever-improving cryptocurrency sector breathes on her back. Recent data suggest that a sharp increase in crypto ATM installations was recorded during 2021. Specific figures show an increase of 71.3%. There are currently more than 24,000 crypto ATMs worldwide.

There may be several reasons why the demand for crypto ATMs is increasing. Many cryptocurrency fans use this method to buy cryptocurrencies through cash.

Alona Lubovnaya, BTC Depot’s director of product operations, said more and more people from all walks of life were interested in cryptocurrencies.

“We have entered a new era in which traditional bank accounts can be replaced by digital wallets, which is why more and more people are choosing to buy cryptocurrencies in cash.”

Purchase on the crypto exchange vs. crypto ATM

Although the number of purchases of cryptocurrencies on exchanges still prevails, it seems that people are becoming more and more comfortable with the feeling of simplicity and quick access to cryptocurrencies offered to them by ATMs. Recent polls in the United States suggest that up to 50 million Americans plan to use cryptocurrencies next year. However, up to 20% of respondents do not know how to buy them.

Derek Muhney, chief marketing officer of Coinsource, a BTC ATM company, said many people appreciate a physical device such as an ATM. According to him, BTC ATMs are the best way to buy BTC, especially for people with insufficient education in the field of cryptocurrencies.

“Using a crypto ATM is the easiest way to buy a cryptocurrency. You don’t have to wait weeks or months for various verifications and you will get to the cryptocurrency before you can return to your car. People understand ATMs and they are not very different from them. ”