holders surged, its price also swelled. Coincidentally, the price spike happened in April 2021, when BTC reached a record high of over $63,000. It was worth noting, however, that during that period, the price had already surpassed $50,000.on 8 April suggested that this uptick in Bitcoin hodlers represented an accumulation phase. BTC’s market behavior can be divided into accumulation and distribution cycles.
Monitoring on-chain data, such as fees-to-reward ratios, which rose before distribution cycles, could forecast the shift from accumulation to distribution. As of this writing, the fees-to-reward ratio was spiking, indicating a potential distribution phase for and a possible price surge. Also, by looking beyond the immediate price increase, there was a likelihood of even more significant growth in the coming months.halving event. This event is scheduled for 29 April, 2024, and will reduce the cryptocurrency’s block reward from 6.25 to 3.125, increasing its scarcity. The report suggested that after the halving, BTC’s price could reach $100,000.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin [BTC]: On paradigm shifts and the possibility of $100kBTC showed similar signs that helped it reach its last ATH. Upward pressure increased as long-term holders decreased supply on exchanges. Historically, the aftermath of every Bitcoin [BTC] halving lays the grounds for the resurgence of a bull cycle. The last time such a thing occurred, the king coin rose up and hit an ATH […] Yah then the US or China will make a law that drops the price of Bitcoin to the ground
Source: CryptoAmb - 🏆 22. / 68 Read more »
All eyes on Bitcoin [BTC] as Coinbase CEO reveals…Coinbase CEO stated that Coinbase might integrate Bitcoin Lightning Network. Bitcoin’s sentiment remained positive; however, traders turn skeptical. Over the past few months, Bitcoin [BTC] has witnessed a substantial rally with a surge in its price. While some traders have been anticipating an imminent price correction due to BTC’s significant rise, comments made by Brian […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Will 2023 be THE year for Bitcoin [BTC] despite the U.S huffing and puffing?Q1 of 2023 was Bitcoin’s [BTC] time to shine. The king coin has not had a favorable run in the recent past. Notably, in 2022, Bitcoin’s price fell by 64.02% from its December 2021 prices. Its losses were compounded throughout the year, with Terra’s [LUNA] crash and FTX‘s collapse leaving BTC in the middle of […] Well said US Democrats, you mean. The majority of elected Republicans support crypto.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Having doubts about Bitcoin’s [BTC] short-term gains? Consider thisInvestors are growing impatient about Bitcoin’s short-term prospects. However, whales may have good news. It has been over two months since Bitcoin’s [BTC] last YTD peak. It has lost its bullish momentum, causing investors to grow weary of its short-term prospects. BTC now runs the risk of investors losing confidence, which could result in increasing […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Bitcoin holders, do you wonder what’s up with BTC network? Read thisBitcoin holders stay put despite high market volatility. Bitcoin inscriptions contribute massively to the fees generated by miners, offsetting some selling pressure. The surge in the value of Bitcoin has led to a significant increase in the profits of numerous Bitcoin holders. However, despite the profit-taking opportunity, a considerable number of these holders have chosen […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Former Coinbase CTO predicts this about the future of BTC but here’s the hitchFormer Coinbase CTO Balaji Srinivasan has reiterated his confidence in his famous million dollar projection for Bitcoin. Balaji believes that if USD loses its status as the global reserve currency, BTC would be the best alternative. Balaji Srinivasan, the former Chief Technology Officer of Coinbase, recently appeared in an interview with Cathie Wood, the visionary […]
Source: CryptoAmb - 🏆 22. / 68 Read more »