Bitcoin has fallen 20% since March, but Glassnode analysts are still optimistic: Here's why
Since the FTX crash last year, Bitcoin has fallen the most recently, falling more than 20% from a high of nearly $74,000. However, Glassnode analysts said they are still optimistic about Bitcoin.
Glassnode said that Bitcoin's general trend has been stable, and the magnitude of the correction is not large. Now that the market liquidity is good, Bitcoin's volatility is also small. But for the price to rise, we still have to look at some fundamental factors. History tells us that the rise and fall of prices has a lot to do with market events.
The good news is that whales (big players) have begun to buy a lot of Bitcoin while the price is low. In the past week, a whale bought more than 100 Bitcoins, and this month it has bought 7,257. This shows that big players think the price of Bitcoin is still low.
And there is more good news for Bitcoin. For example, Trump has also begun to accept Bitcoin donations, which is a big change. In addition, European regulators are also considering including Bitcoin in investment funds. It seems that Bitcoin is becoming more and more recognized.
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