BTC’S Velocity has attained Store of Value Status

BTC'S Velocity has attained Store of Value Status

A measure of the rate of which BTC is circulating in the economy, refers to Bitcoin’s velocity as opined that the analyst at Cryptoquant Company.  In other words, it shows if the primary cryptocurrency is generally used as a means of payment – if there’s high activity on the network – or as a store of value – in case the activity is lower.

More recent data from the company indicated that the velocity had started to increase in mid-2020 and has reached a new two-year high. Nevertheless, it’s still far away from the tops during the previous bull cycles in 2013 and 2017, suggesting that there’s still more room for growth for BTC during the current run

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