As Investors and traders rush to have a stake in the world’s most valuable crypto asset, crypto futures trading platform (Bybit) is currently hosting thousands of crypto fans for its World Series of Trading (WSOT) competition.
With roughly 12 days left before the competition ends, 12,368 participants are currently pursuing 200 Bitcoin (BTC) in prize money, valued around $2.4 million, according to data from WSOT’ website.
Nairametrics readers can become part of the World Series of Trading competition by clicking here.
Meanwhile, sentiment aligning well with daily active addresses (orange bars) and BTC price increased over past days, which should indicate these are overall sustainable conditions for further price expansion.
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Sentiment aligning well with daily active addresses (orange bars) and $BTC price increase over past days, which should indicate these are overall sustainable conditions for price further expansion. Thanks @santimentfeed pic.twitter.com/QxFkItyWkY
— Adrian Zduńczyk, CMT (@crypto_birb) August 18, 2020
As Bitcoin continues to gain traction, co-founder of Gemini, an American regulated crypto exchange, Tyler Winklevoss, advised newcomers to the crypto market saying:
“You don’t have to buy a full bitcoin, you can buy any fraction of a bitcoin that you want — even as little as 0.00000001 (called a “satoshi”) is possible”.
This is what Bitcoiners mean when they say they’re “stacking satoshis” or “stacking sats.”
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Attention #Bitcoin newcomers, you don't have to buy a full bitcoin, you can buy any fraction of a bitcoin that you want — even as little as 0.00000001 (called a "satoshi") is possible. This is what Bitcoiners mean when they say they're "stacking satoshis" or "stacking sats."
— Tyler Winklevoss (@tyler) August 18, 2020
Why you shouldn’t ignore Bitcoin now?
In recent times, some emerged markets have beefed up their monetary activities, attempting to prop up their fragile economies disrupted by the raging COVID-19 pandemic.
BTC holds a maximum supply of about 21 million digital coins of which there are about 18.5 million in circulation, while about 4million BTCs have already been lost forever. These reveal that its definite supply protects the asset against inflationary assets like cash.