Bitcoin Accumulation Patterns Shows Rally Might Only Be In Its Early Stages<\/a><\/strong><\/em><\/p>\nTrends show that investing in bitcoin is turning away from just making a profit in the market. Strong belief in the market and blockchain technology continues to draw staunch supporters into the market who believe cryptocurrency is the future.<\/p>\n
With this, bitcoin’s price will most likely continue to see price increases. The rally is most likely to continue given that bulls have now taken over the market. And the price is responding to this takeover.<\/p>\n
Featured image from BlockPublisher, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"Bitcoin price continues to see massive gains as the price sees massive recovery in the past weeks. Prices surged this past week which saw the digital asset beating prices that had not been reached since the price crash following the all-time high. Bitcoin had spent months in a rut, as dip after dip saw the price crashing down to as low as $28,000. Speculations following the dip were strongly in favor of the market finally being in a bear market. But it seems that the bull market is not done yet. The market has now seen recoveries across top coins. With some coins posting as much as 15% recoveries in a single day. Bitcoin has now, for the first time in two months, moved past the $45K mark. Related Reading |\u00a0Bitcoin Set To Outperform In Second Half Of 2021, Bloomberg Analyst With this incredible move, it is now left to see where this price bounce will land. The daily gains being seen in the coin price shows that this run-up might continue, with indicators in the market continue to remain bullish. Breaking $45K now puts the pioneer cryptocurrency on track to break an all-time high again. Maybe set a new record while at it. New All-Time High On The Horizon? Analysts have continued to believe that the price of bitcoin remains severely undervalued. With some calling for as much as $100K price targets for the asset before the year runs out. With bullish sentiment still in full gear, the price of the digital asset is most likely going to continue to go up. Indicators like the Fear & Greed Index have moved out of extreme fear, and the last reading showed that the market has now moved out of fear territory completely. The indicator now sits at neutral for the past week. With readings for this week expected to fall into greed territory as more investors return into the market. BTC price breaks north of $45K following run-up | Source: BTCUSD on TradingView.com On-chain analysis also shows things like daily bitcoin transactions are now up a whopping 94% since daily transactions had tanked following the numerous price dips the asset had experienced. Long-term analysis points to the rally still being in its early stages following the $45K break. Another surge is most likely going to send the price of the digital asset ricocheting into the $60K territory. Investors Continue To Hoard Their Coins Instead of selling their bitcoins, investors have now taken to withdrawing their coins from exchanges in order to hold them in personal wallets, according to on-chain analysis. Accumulation patterns now show that more coins are leaving exchanges than are being sent to exchanges. The numbers show an active buy pressure in the market, which leads to the price of the coin going up as demand grows following buy pressures. News like Coinbase adding Apple Pay options to buy crypto also opens the market up to even more potential investors. Related Reading |\u00a0Bitcoin Accumulation Patterns Shows Rally Might Only Be In Its Early Stages Trends show that investing in bitcoin is turning away from just making a profit in the market. Strong belief in the market and blockchain technology continues to draw staunch supporters into the market who believe cryptocurrency is the future. With this, bitcoin’s price will most likely continue to see price increases. The rally is most likely to continue given that bulls have now taken over the market. And the price is responding to this takeover. Featured image from BlockPublisher, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":468889,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1119,1144,78790,79520],"class_list":["post-468888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt","tag-xbtcusd"],"acf":[],"yoast_head":"\n
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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Breaks $45,000 For the First Time In Over 2 Months, Is $64,000 Possible Again?","url":"http:\/\/wncen.com\/news\/bitcoin-price-breaks-45000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-breaks-45000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/btc-bull.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/btc-bull.jpeg?fit=882%2C526"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btc","btcusd","btcusdt","xbtcusd"],"dateCreated":"2021-08-09T17:00:55Z","datePublished":"2021-08-09T17:00:55Z","dateModified":"2024-06-11T12:13:02Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Breaks $45,000 For the First Time In Over 2 Months, Is $64,000 Possible Again?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-breaks-45000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-breaks-45000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/btc-bull.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/btc-bull.jpeg?fit=882%2C526\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btc\",\"btcusd\",\"btcusdt\",\"xbtcusd\"],\"dateCreated\":\"2021-08-09T17:00:55Z\",\"datePublished\":\"2021-08-09T17:00:55Z\",\"dateModified\":\"2024-06-11T12:13:02Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/btc-bull.jpeg?fit=882%2C526","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/468888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=468888"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/468888\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/468889"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=468888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=468888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=468888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}