Bitcoin

Rekt

Donald Trump

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-experiences-significant-price-increase/" data-wpel-link="internal">Bitcoin Experiences Significant Price Increase</a><br></p>
<p style="text-align: justify"><strong>Bitcoin (BTC)</strong> experienced a significant upward trend last week with a price increase of approximately 12.8%. This rise is attributed to factors such as the expectation of a spot Ethereum (ETH) ETF and Donald Trump recently accepting Bitcoin for election donations.</p> 
<h2 id="expert-opinion-on-bitcoin">Expert Opinion on Bitcoin</h2> 
<p style="text-align: justify">Despite the rise, the<strong> cryptocurrency</strong> experienced a slight decline in the last 24 hours, dropping 1.8% from its 24-hour high of $71,422 to $69,823. Although the general trend continues to rise, there may be signs of a short-term decline in the market. Following this volatility, <a href="https://en.coin-turk.com/cryptocurrency-halving-targets-whats-next-for-bnb-sol-and-xrp/" data-wpel-link="internal">crypto analyst</a> Rekt Capital shared his cautious outlook on Bitcoin’s market dynamics.</p> 
<p style="text-align: justify">The analyst suggests that Bitcoin could continue to consolidate within its current range for a few more weeks based on historical patterns. According to the expert, the key level to watch is around $71,500. A weekly close above this level could catalyze a breakout from Bitcoin’s reaccumulation range.</p> 
<p style="text-align: justify">Rekt Capital noted that extended consolidation aligns <strong>Bitcoin</strong> with historical halving cycles and potentially extends the bull run. The current cycle’s approximately 190-day acceleration may indicate a recovery from the 260-day acceleration observed in mid-March when Bitcoin reached all-time highs. The analyst emphasized:</p> 
<blockquote> 
 <p style="text-align: justify">History generally shows that we should see a long period, but Bitcoin once again defied the course of history by closing a week above the $71,500 high range.</p> 
</blockquote> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-354580 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/bitcoi-1.jpg" alt="" width="1100" height="592"></p> 
<h2 id="investor-behavior-in-btc">Investor Behavior in BTC</h2> 
<p style="text-align: justify">It was suggested that the mentioned scenario could potentially carry <strong>Bitcoin</strong> to unprecedented dimensions and reach an all-time high (ATH). Supporting the bullish outlook, CryptoQuant <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> highlighted by CEO Ki Young Ju shows that even if prices rise to around $70,000, Bitcoin holders are reluctant to sell their tokens.</p> 
<p style="text-align: justify">This behavior may indicate that Bitcoin is increasingly seen as a store of value. According to Ki Young Ju, the holding intensity ratio may show that Bitcoin’s holding behavior closely matches scenarios where each token remains inactive, reinforcing its status as a long-term <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investment</a>.</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/bitcoin-experiences-significant-price-increase/" data-wpel-link="internal">Bitcoin Experiences Significant Price Increase</a></h5>

Bitcoin Experiences Significant Price Increase

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