{"id":417648,"date":"2020-03-10T20:00:41","date_gmt":"2020-03-10T20:00:41","guid":{"rendered":"https:\/\/wncen.com\/?p=417648"},"modified":"2024-06-11T09:18:37","modified_gmt":"2024-06-11T09:18:37","slug":"heres-why-rising-sales-at-this-niche-bitcoin-company-are-bullish-for-btc","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/heres-why-rising-sales-at-this-niche-bitcoin-company-are-bullish-for-btc\/","title":{"rendered":"Here’s Why Rising Sales at this Niche Bitcoin Company are ‘Bullish’ for BTC"},"content":{"rendered":"

A niche Bitcoin-only hardware wallet<\/a> company has reported surging sales of late. CoinKite<\/a>, the creator of the ColdCard wallet, just apparently had its best week of sales ever.<\/p>\n

The CEO of the company claims that the bumper sales are the result of organic interest in the product it offers, rather than any form of marketing campaign. This shows that growing numbers have either already or plan to hold an amount of Bitcoin worth protecting.<\/p>\n

Interest in Long-Term Bitcoin Security Increasing?<\/h2>\n

The recent price action in the Bitcoin and wider cryptocurrency markets has left many investors unsure as to future price direction. The leading digital asset shed billions from its market capitalisation following heavy losses in existing markets yesterday.<\/p>\n

Bitcoin’s sudden drop below $8,000 shocked many of those investors feeling bullish leading into the BTC halving. In fact, some observers said the plunge shows that the popular store of value\/safe haven narrative<\/a> is premature at best and completely wrong at worst.<\/p>\n

Despite the recent price action, various metrics suggest that the market should be feeling anything but bearish. For example, Bitcoin hash rate just hit a new all-time high, the supply of new BTC hitting the market is about to contract suddenly, and Bitcoin price just retook $8,000 after plunging past it.<\/p>\n

Although the industry was fast to panic, Bitcoin’s losses over the last day or two are actually not so grave in comparison to other markets<\/a>. Similarly, the leading digital asset is still very much up on the year, as highlighted by the following tweet<\/a>:<\/p>\n

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Year-to-Date:<\/p>\n

Oil: -46.82%
Commodities: -27.94%
UK Stocks: -18.69%
Dow Jones: -16.42%
European Stocks: -15.29%
US Stocks: -14.99%
Silver: -4.39%
Gold: +9.30%#Bitcoin<\/a>: +12.80%<\/p>\n

— Bloqport (@Bloqport) March 10, 2020<\/a><\/p><\/blockquote>\n