Is $40,000 the New Floor? PlanB Predicts Bitcoin's Bullish Future:
$BTC $ETH $BNB
Miner selling pressure: Reduced significantly, from over 800 BTC/day at the end of 2023 to less than 300 BTC/day at the beginning of 2024.
Accumulation by "whales":
Large investors are actively buying Bitcoin, contributing to the upward price trend.
Network activity:
A decrease in Bitcoin transactions and fees has been observed, which is attributed to lower activity in BRC-20 token registrations and transactions.
Current Price: Bitcoin is trading at approximately $44,451, up 3.61% in the last 24 hours.
Analysis: Prominent Bitcoin analyst PlanB offers a bullish outlook, noting that the current price is above all realized price levels, indicating bullish momentum similar to previous bull markets. PlanB speculates that Bitcoin will not fall below $40,000 again.
Additional considerations:
It is important to note that the cryptocurrency market is highly volatile and price predictions are difficult to make with certainty.
It is recommended to carry out your own technical and fundamental analysis before making investment decisions.
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