Bitcoin is down by 23% from its all time high, which might be a fear signal for newcomers. However, believers see this as a necessary correction. For some, this is a time to be fearful, but for others, it’s a chance to wait for the right time & opportunity to fill their bags. More than Btc price, a large number of people look for its value.
BTC Price: Always on the Rise
Don’t just take the Bitcoin maximalists’ word when they say it’s time for “diamond hands.” Let’s look at the data because numbers never lie. No matter what time frame you open, if you see the bigger picture, you’ll notice a continuous upward trend since Bitcoin’s inception. Historically, whenever Btc price rode the 200 DMA, it led to a significant price increase.
Bitcoin wallet inflow and outflow data show that people are beginning to understand its value. Instead of trading, many are accumulating it. Over time, a large volume of Bitcoin has moved from exchanges to private wallets.
Rising Adoption: Bitcoin’s Journey to Becoming a Powerful Asset
Yes, crypto is highly volatile, but Bitcoin’s volatility history shows it’s growing stronger. This bolsters the confidence of Bitcoin believers. Bitcoin still holds more market dominance than all other cryptos combined, no matter how famous they become.
Famous entrepreneur and Bitcoin investor Lark Davis predicts Bitcoin will soon reach $150k. When this happens, Ether will likely hit $15k and Solana $1,000. His reasons align with the data we discussed. Bitcoin ETFs are already thriving, and an ETH ETF is expected soon, with a Solana ETF also on the horizon.
Data from BitInfoCharts shows a constant rise in the number of active Bitcoin addresses over the year.
This means more people are understanding and adopting Bitcoin every day. The Rainbow price chart illustrates how, over the years, Bitcoin has become a powerful asset, increasing in both price and value.
All the data has always been showing a great future for Bitcoin and people who believe in it. If this Isn’t this what we call “to the moon” then what it is?