All Eyes Up, Could Bitcoin Break Out? » Crypto Insiders

Bitcoin whales blijven aan de zijlijn staan, opwaartse trend onzeker

price Bitcoin (BTC) It’s been on a nice uptrend for almost two weeks now. However, at the moment, the price is hitting an important resistance area. It will be of great importance what Bitcoin will do in the next few days. Will there be a breakout and will we move towards $50,000 or will we not be able to break the resistance and will we have to pull back first?

‘From fake’

First of all, of course, it is good that Bitcoin is still hovering around $44,500. This means that the uptrend is still clearly in place. However, traders have sounded the alarm after a sudden explosion of some huge cryptocurrency exchanges sell walls Originated. This aroused suspicion that progress bulls It could stop just above $45,000.

In addition, the potential hack has already failed twice in the so-called From fake† According to analysts on Twitter, it is very important that the third attempt succeeds. again rejection It may mean bad news.

What gives many investors hope for an upward movement at the moment is the fact that the Terra blockchain protocol stores a large shipment of bitcoins. At the moment there is on andt of terra Already over $1.1 billion worth of bitcoins.

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Bitcoin transaction costs are historically low

Despite the recent serious upside, transaction costs on the Bitcoin network are still very low. This is because the activity on the network is relatively low. According to the famous analyst Benjamin Quinn, this is because the current The audience is nowhere to be seen at the moment.

“The ‘tourists’ are obviously gone for now. But they will come back. They always do.”

For now, as is often the case, we’ll have to wait and see what’s up Bitcoin price going to do. The outbreak to the top would be massive rising It is for the foreseeable future. small swipe back It wouldn’t be a disaster, though. As long as the price manages to stay above $37,500, we can still talk about a local bullish trend.

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