The Cryptocurrency Market is Heating Up
After dropping to $74,000 due to economic instability, Bitcoin has surged 25%, and this could just be the beginning. Expert Robert Breedlove believes that a strong rally is just around the corner.
High Production Costs
A significant sign comes from the "Average Miner Cost of Production" chart from Blockware. The price of Bitcoin rarely stays below the production cost for long. Each time Bitcoin has dropped below this level in the past, it has led to a strong price increase. This has happened six times before, most recently in September 2024, and this signal is appearing again.
Actions of Long-Term Investors
Another important indicator is that long-term investors are buying more Bitcoin. In the past 30 days, they have added 150,000 Bitcoin. This shows strong confidence in the future of Bitcoin and a decline in selling supply; prices typically rise when there are fewer sellers.
Increased Fiat Liquidity
The strongest signal may be the increased liquidity of fiat currency, especially from the USD. As more USD flows into the system, the amount of money available to buy Bitcoin increases. ETF funds, Bitcoin bonds, and large companies are starting to buy in, making it easier for money to flow in.
Currently, Bitcoin is trading around $96,676, up 1.5% in the past 24 hours, with a market capitalization of $1.92 trillion. These signs indicate that a Bitcoin boom may be very close.
Source: https://tintucbitcoin.com/3-ly-do-gia-bitcoin-sap-tang-bung-no-25/
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