Despite the recent consolidation of Bitcoin's (BTC) price following its 62% increase over two months, there are compelling signs that the upward trend will continue. Here are five key factors confirming the potential for further growth of BTC:
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Potential Approval of BlackRock's Bitcoin ETF by the SEC: This event could catalyze Bitcoin's price growth, attracting institutional investors. Price dynamics forecasts after the ETF approval range from $42,000 to $1 million.
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70% of BTC Supply Hasn't Moved in Over a Year: Most BTC holders retain their assets despite significant price growth, indicating investor confidence in Bitcoin's long-term potential.
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CME Group Surpasses Binance in Futures Market Trading Volume: This indicates sustained interest from institutional investors and may signal the continuation of the upward trend.
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Active Accumulation of BTC by Whales: An increase in the number of addresses with balances from 1,000 to 10,000 BTC and a rise in large transactions confirm the interest of major players in Bitcoin.
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Repetition of Historical Growth Patterns in BTC's Chart: The current price dynamics of Bitcoin are similar to the parabolic growth observed in previous cycles, which may herald a new surge in growth.
These factors collectively create favorable conditions for the continuation of Bitcoin's rally, reinforcing optimistic market sentiments.
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