Strong

Bitcoin

While the leading cryptocurrency Bitcoin is approaching $ 50,000 with the rise that started last week, it is currently showing horizontal movements at the level of $ 48,000.
While this rise pleases investors, expectations for further rallies from BTC continue.
At this point, a new report came from Glassnode that will make investors happy.
Glassnode stated in a recent report that Bitcoin may see a steady price increase following the halving event due to lower selling pressure and new interest in native Bitcoin-based applications.
Stating that Bitcoin's technical fundamentals and use cases have increased significantly in the past year, Glassnode analysts said that the halving, which has historically brought the rise compared to previous halving cycles, has made Bitcoin “stronger”.
<blockquote>
 “Despite short-term miner revenue challenges, underlying on-chain activity and positive market structure updates make this halving fundamentally different.
 Although long heralded as digital gold, recent developments show Bitcoin is evolving into something even more significant.
 Historically, the possibility that all newly mined Bitcoins could be sold has brought potential selling pressure to the market, which has affected prices.
 Currently, 6.25 Bitcoins mined per block equates to approximately $14 billion annually (assuming a bitcoin price of $43,000). In other words, an annual purchasing pressure of $14 billion is needed to maintain current prices.
 However, with the halving, the purchasing pressure requirements will drop to $7 billion annually as the rewards drop to 3.25 Bitcoins per block. This will alleviate the sales pressure experienced after the halving.
 As a result, Bitcoin is preparing for a strong rally that will start after the halving.”
</blockquote>
Glassnode also noted that halvings make it much more difficult to obtain or mine new Bitcoins, noting that historically halvings occur before bull runs.
Bitcoin continues to be traded at $48 at the time of writing.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bitcoin-report-from-glassnode-btc-is-preparing-for-a-strong-rally/" rel="noopener noreferrer nofollow">Bitcoin Report from Glassnode! "BTC is Preparing for a Strong Rally!"</a>

Bitcoin Report from Glassnode! "BTC is Preparing for a Strong Rally!"

Bitcoin Sistemi EN

2024년 2월 12일에 게재된 다른 기사

Solana mobile 2 hits 100K pre-orders in a month

GameFi Sector Experiences Remarkable Growth and Innovation

Chiliz (CHZ) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Super Bowl sees decline in crypto ads following FTX fallout

5 Meme Coins To Watch if You Missed BONK’s Rise

Ethereum Whale Who Bought First ETH at $50 Unveils New Token With Similar Potential

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!