It’s no longer news that the world’s most popular crypto has got its mojo back, but what seems to be news is that leading crypto experts are anticipating the bullish rally is still in its early stages amid the fact it has risen more than eighteen folds within a year
A popular crypto strategist, simply known as Smart Contractor predicts Bitcoin is en route to a new all-time high of $73,000 before March is overdue on the bias that many Americans in the coming days might pump into the flagship crypto asset via their stimulus support funds.
“$1.9 trillion printed send it. It’s counterintuitive to think it will be this easy but in this environment, with m1 (money supply) going up, BTC goes up,” he said.
$1.9T printed send it.
— Bluntz (@SmartContracter) March 10, 2021
At press time Bitcoin was trading at $61,050.29 with a daily trading volume of about $60 Billion. Bitcoin is up 23% for the week.
It’s currently the most valuable crypto with a market value of $1.14 Trillion.
The flagship crypto importance for “commerce on the internet” has also helped its credence among a significant number of millennials and Gen Z globally. Bitcoin isn’t valuable necessarily of the fact that its the leading crypto asset, but these categories of people primarily see its futuristic value displaying traditional safe-haven assets like gold.
Also, data from a popular crypto strategist, with the pseudo name, Willy Woo spoke on the strong holding fundamentals that have kept the flagship crypto above the $55,000 price levels in the past few days strong hands came in to buy this latest dip.
Red in the chart below shows coins moving to HODLers with very little history of selling.
Strong hands came in to buy this latest dip.
Red in this chart showing coins moving to HODLers with very little history of selling. pic.twitter.com/SPd8jb9d28
— Willy Woo (@woonomic) March 11, 2021
Finally, it’s key to note that Bitcoin is becoming very scarce, amid the bias that its present supplies are arbitrarily squeezed by strong institutional buying, as recent data reveal Bitcoin’s supply has been dropping for 12 months.
There are currently about 2 million BTCs available in satisfying the high demand for the world’s most attractive financial asset