Bitcoin (BTC) is poised for a major surge, possibly as much as 90%! 🚀 In a recent post, CryptoQuant revealed that the Puell Multiple, a key indicator for BTC price, is close to reaching a point where it typically spikes. 📈
The Puell Multiple measures the value of Bitcoin mined each day compared to the 365-day average. When this number exceeds the average, there is usually a significant price surge. 💰 Over the past five years, when the Puell Multiple has exceeded the SMA365, Bitcoin has seen an average increase of around 90%! 😲
Previous surges saw an 83% increase in March 2019, a 113% increase in January 2020, and a 76% increase in January 2024. 🔥 CryptoQuant believes that favorable macroeconomic conditions are also playing a role in the possibility of this “inevitable” rally. 🌍
On the other hand, Bitcoin’s current RSI suggests that the bull market has just begun, with BTC price up over 40% in the fourth quarter. 📊 Analysts are predicting a parabolic phase that could take BTC/USD price to new highs, possibly even reaching six figures! 💵 However, there are concerns about “FOMO” (Fear of Missing Out) from retail investors that could lead to a sharp correction. 😬
So, all signs suggest that we might see a strong bull rally in the near future! 🎉
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