Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-discuss-bitcoins-recent-price-surge/" data-wpel-link="internal">Analysts Discuss Bitcoin’s Recent Price Surge</a><br></p>
<p style="text-align: justify">With <a href="https://en.coin-turk.com/has-bitcoin-reached-its-peak-price/" data-wpel-link="internal">Bitcoin</a>‘s price rising to $67,000 for the first time in a long period, there has been a noticeable increase in analysts’ comments in the market. According to a popular cryptocurrency analyst, the “basic laws of supply and demand” might be moving in favor of Bitcoin (BTC).</p> 
<h2 style="text-align: justify" id="analyst-s-bitcoin-comments">Analyst’s Bitcoin Comments</h2> 
<p style="text-align: justify">Ali Martinez, a well-known figure in the cryptocurrency world, made important statements to his followers on the social media platform X. The analyst noted that Bitcoin reached an all-time high of over $73,700 in March, putting most long-term <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> in a profitable position.</p> 
<blockquote> 
 <p>The increasing BTC supply in the market led to a corrective phase where demand levels were surpassed, causing Bitcoin’s price to drop below $57,000. This decline pulled Bitcoin below the Realized Price of Short-Term Holders, creating a sense of fear in the market as short-term holders were more likely to sell based on price fluctuations.</p> 
</blockquote> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-352804" src="https://coin-turk.com/wp-content/uploads/2024/05/ali-martinez-2.png" alt="" width="1039" height="583"></p> 
<p style="text-align: justify">As of today, the Realized Price value for Short-Term Investors is $60,500, which, despite being a feared level for investors, remains an entry level. Looking back, it was observed that long-term investors were confident in adding more than 70,000 BTC at these levels after making profits in March.</p> 
<p style="text-align: justify">To briefly explain what the realized price is, it can be defined as the average price at which circulating Bitcoin was last purchased. The realized price value for short-term holders can be defined as the average purchase price level of all Bitcoins acquired within a 155-day period.</p> 
<p style="text-align: justify">Martinez also predicts that the demand for Bitcoin will start to surpass supply over time.</p> 
<blockquote> 
 <p>Observing Bitcoin’s Balance on Exchanges can confirm these supply and demand dynamics. Since the beginning of May, more than 30,000 BTC have been moved to private wallets for long-term holding, indicating Bitcoin holders’ confidence in Bitcoin’s <a href="https://newslinker.co/" data-wpel-link="exclude">future</a> value.</p> 
</blockquote> 
<h2 style="text-align: justify" id="img-loading-lazy-loading-lazy-decoding-async-class-size-full-wp-image-352805-aligncenter-src-https-coin-turk-com-wp-content-uploads-2024-05-ali-martinez-1-png-alt-width-1043-height-585-how-much-is-bitcoin-worth-now"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-352805 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/ali-martinez-1.png" alt="" width="1043" height="585">How Much is Bitcoin Worth Now?</h2> 
<p style="text-align: justify">With Bitcoin surpassing $67,000 again today, the market seems to have taken a breath. As of the time of writing, Bitcoin is trading at $66,900, just below the mentioned level, following a 2.49% increase.</p> 
<p style="text-align: justify">The market volume on the Bitcoin side also appears to have surpassed the critical threshold of $1.3 trillion. However, BTC’s 24-hour trading volume does not look very promising. Following a 12% drop, indicating a loss of interest from investors, this value stands at $27.9 billion.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analysts-discuss-bitcoins-recent-price-surge/" data-wpel-link="internal">Analysts Discuss Bitcoin’s Recent Price Surge</a></h5>

Analysts Discuss Bitcoin’s Recent Price Surge

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