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A decreasing number of new purchasers are nevertheless willing to make these high-level investments, according to the state of the market. The lack of buying interest is making it difficult for Bitcoin to surpass the psychological $70,000 Furthermore, strong fundamental drivers that have historically sparked enormous bull runs are absent from Bitcoin at the moment. While the NFT craze played a similar role in 2021, the ICO boom in 2017 propelled Bitcoin to previously-unheard-of heights. There is currently no trend or invention like this propelling investor capital and enthusiasm toward Bitcoin on a large scale.
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