Expected factors that could help Bitcoin increase in price in the coming months!
1. Miners stop selling Bitcoin. After the Halving, miners are under great pressure due to very high mining costs, forcing them to sell BTC to maintain facilities and buy new mining machines. After upgrading the mining system with better performance, they no longer have to sell Bitcoin.
2. Mt. Gox pays off debt slowly. The amount of Bitcoin and Bitcoin Cash that Mt. Gox must pay creditors worth up to 9 billion USD. But the good news for you is that they will repay this amount of coins in many different installments. The best case scenario is that they repay their debt multiple times over a long period of time to reduce selling pressure.
3. US Presidential candidates support Crypto. Both Joe Biden and Donald Trump sought to attract web3 voters to their side by repeatedly declaring their support for crypto and especially Bitcoin.
Today, the Fear & Greed index reached 30, showing that the market is extremely scared. This is the lowest level in the past year and we may soon see buying pressure increase again!
