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#Bitcoin Breaking Soon 🚀 This $BTC consolidation pattern will most likely break out early next week! The trend is up, so I expect we are going to see a break to the topside. What are your thoughts ? #BTC☀ #EarnFreeCrypto2024

#Bitcoin Breaking Soon 🚀

This $BTC consolidation pattern will most likely break out early next week!

The trend is up, so I expect we are going to see a break to the topside.

What are your thoughts ?

#BTC☀ #EarnFreeCrypto2024

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Bitcoin's Next Leap: Billionaire Predicts $500,000 Per BTC—When & How Famous billionaire investor Chamath Palihapitiya has entered the Bitcoin Halving discussion and its long-term effects. Here's how the Billionaire believes this four-year event in the Bitcoin ecosystem might boost Bitcoin's value to $500,000 in the future. Post-halving, the top cryptocurrency has seen considerable price rises, usually 12–18 months later. Palihapitiya notes that prices first rise modestly but skyrocket after Halvings. Six months after the initial Halving, it increased tenfold and 45.52x after 18 months. Later cycles witnessed considerable but more gradual growth. After 18 months of the second Halving, Bitcoin soared 27.92x, and the third Halving rose approximately 8x. Palihapitiya sees Bitcoin's present consolidation as normal development. He believes Bitcoin might climb exponentially to $500,000 by October 2025 if it follows the second and third cycles. Palihapitiya noted that this cycle is different owing to BTC's “commercialization” by the launch of spot ETF products in the US, which might affect the cryptocurrency's value. Palihapitiya said these financial solutions help “Bitcoin cross the chasm” and have its “central key moment.” He describes the changing global financial environment and predicts many nations will embrace a “dual currency” arrangement. According to the Billionaire, nations will increasingly use their native currency for daily transactions and BTC for long-term digital assets. $BTC #Megadrop #StartInvestingInCrypto #altcoins #BTC☀
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🤔 Bitcoin Holds Strong On-Chain Support Below $68,900: Ready for a Fresh Rally? On-chain data indicates that Bitcoin has significant support between $66,900 and $68,900, potentially providing a solid foundation for a new surge to higher levels. 🔸 Strong Investor Activity Between $66,900 & $68,900 According to the market intelligence platform IntoTheBlock, Bitcoin is currently above a major demand zone. In on-chain analysis, the strength of support or resistance levels is determined by the amount of “demand” at those levels. A chart shows various Bitcoin price ranges near the current spot value and compares them in terms of the total amount of Bitcoin purchased by investors. The size of each dot on the chart represents the total number of tokens last acquired at the corresponding price range. The levels between $66,900 and $68,900 represent the cost basis for the largest amount of BTC, with over two million addresses having acquired 1.1 million BTC in this range. Since Bitcoin's current spot price is above these levels, all investors who bought within this range are now seeing slight profits. 📊 The Importance of Investor Cost Basis In on-chain analysis, investor cost basis holds psychological significance. A potential retest of this level can flip the profit-loss balance for holders. Investors might react differently depending on their positions before the retest: - Investors carrying losses before a retest from below might be tempted to sell to avoid further declines. - Investors already in profit might anticipate further price increases and hold onto their BTC. These reactions can impact the wider market, making major demand zones below potential support points and those above potential resistance levels.$BTC #btc70k #Megadrop #StartInvestingInCrypto #BTC☀
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