In a market full of Bitcoin and altcoins, an important metric attracts attention. An analyst named Crypto King brought the metric to the agenda today. Let’s look at the evaluations for the metric.
Is the situation bad for altcoins?
The AHR999 index serves as an important indicator that evaluates the relationship between Bitcoin’s price and mining cost. This index analyzes the 200-day average of Bitcoin price. It also compares it with the cumulative electricity expenditures made by Bitcoin miners over the same period. The main purpose of this ratio is to determine whether the current Bitcoin price is suitable for investment. Currently the AHR999 index is at 0.43. Accordingly, it indicates that the Bitcoin price is in a suitable range for long-term accumulation. This indicator shows that conditions are currently favorable for potential investors to consider BTC as a valuable asset for the future. So does the same thing apply to altcoins?
AHR999 index, #Bitcoin It is an indicator based on evaluating the price according to the mining cost. This index is the 200-day average of Bitcoin price, #Bitcoin compares it with the total cost of electricity spent by miners for 200 days. This rate is $Bitcoin… pic.twitter.com/f1ADNdAsWB
— Crypto King (@kriptokrali_) October 18, 2023
Bitcoin is no longer just a digital currency. Accordingly, it has turned into a “risk-off” product, as accepted by part of the global financial community. This transformation is leading to major institutional players making significant investments in Bitcoin, albeit gradually. As a result, Bitcoin remains strong with increasing interest and financial support from key stakeholders. This is exactly where the analyst Crypto King points out that there is a difficulty for altcoins.
Challenges for other cryptocurrencies
Contrary to Bitcoin’s promising outlook, the same cannot be said for altcoins, according to the analyst. The cryptocurrency environment is developing rapidly. There is also increased scrutiny from organizations such as the U.S. Securities and Exchange Commission (SEC). On the other hand, the same organization’s actions bring additional challenges for altcoins. Altcoins are likely to face continued challenges due to pressure and regulations imposed by the SEC. The regulatory environment surrounding altcoins creates uncertainty and barriers that can hinder their growth and widespread adoption. This factor makes Bitcoin a more attractive and relatively stable option for investment.
Tracking the AHR999 index provides valuable insight into Bitcoin’s attractiveness for long-term investment. However, investors should remain cautious when taking action regarding altcoins as the regulatory environment for these assets remains uncertain. When we look at it from Kriptokoin.com, Bitcoin’s position as a “risk-free” product draws attention. On the other hand, its positive status compared to the AHR999 index indicates long-term investment potential. On the other hand, altcoins may face ongoing challenges due to increasing regulatory pressures.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.