2024

Bitcoin

Notable

<p><strong>Bitcoin (BTC) is witnessing an epic surge. Less than a week ago, the flagship crypto already particularly surprised with a record rise brushing against $53,000. The asset stuns again by breaking the key resistance of $55,000. The reasons for this spectacular surge in this article.</strong></p>
<h2 id="h-the-drivers-of-the-bitcoin-btc-surge">The Drivers of the Bitcoin (BTC) Surge</h2>
<p>Bitcoin (BTC) continues to confirm the expectations of asset manager VanEck regarding its resurgence in 2024. Following a recent surge that pushed the valuation of the flagship crypto beyond $52,000, the asset has now made another remarkable breakthrough.</p>
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<p>This has taken the market value of the queen of cryptos around $57,300. Bitcoin has broken the $55,000 resistance by gaining 11.14% on its valuation within a short 24-hour period! Enough to stir the enthusiasm of investors.</p>
<p><a href="https://en.coin-turk.com/bitcoins-notable-price-surge-key-drivers-explained/" target="_blank" rel="noopener noreferrer nofollow">This notable increase in the price of bitcoin</a> is the result of several factors. On-chain data suggest the primary and main factor as the interest of institutional investors supported by the optimism of the crypto market.</p>
<p>According to these data, there is a constant accumulation of bitcoins by whales. A trend that indicates a strong bullish sentiment in the long term suggesting the enhanced attractiveness of the asset among discerning investors looking for sustainable profits.</p>
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     <p lang="en" dir="ltr">Bitcoin’s Notable Price Surge: Key Drivers Explained <a href="https://t.co/lfhz3KtE7G" rel="noopener noreferrer nofollow">https://t.co/lfhz3KtE7G</a></p>— COINTURK NEWS (@Cointurknews) <a href="https://twitter.com/Cointurknews/status/1762372608010473864?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 27, 2024</a>
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<h2 id="h-what-about-the-consequences-of-this-bullish-trend-in-btc">What About the Consequences of this Bullish Trend in BTC?</h2>
<p>As Bitcoin (BTC) appears to be in a series of remarkable breakthroughs in recent days, what can we expect in terms of the prospects for the flagship crypto? Some analysts recently answered this question.</p>
<p>Someone like Michaël van de Poppe boldly predicted a 40% collapse in the valuation of bitcoin in a context of macroeconomic austerity. For the moment, this prophecy does not seem to follow the announced direction.</p>
<p>Robert Kiyosaki, the investor who needs no introduction, put his finger in the fire predicting a rise in BTC to $100,000 by June 2024. With a bitcoin price at $57,300, trends seem to prove him right.</p>
<p>It is interesting to note that despite this bullish sentiment, short sellers betting against bitcoin are reinforcing the market optimism. A divergence that suggests a continuation of the rise in the <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noopener noreferrer nofollow">bitcoin price (BTC),</a> at least in the short term.</p>

Bitcoin: The reasons behind the spectacular rise of the leading cryptocurrency

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