{"id":44331,"date":"2024-12-31T09:19:22","date_gmt":"2024-12-31T09:19:22","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/glassnode-co-founders-outline-key-factors-for-bitcoins-price-rally\/"},"modified":"2024-12-31T09:19:22","modified_gmt":"2024-12-31T09:19:22","slug":"glassnode-co-founders-outline-key-factors-for-bitcoins-price-rally","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/glassnode-co-founders-outline-key-factors-for-bitcoins-price-rally\/","title":{"rendered":"Glassnode Co-Founders Outline Key Factors for Bitcoin\u2019s Price Rally"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Jan Happel and Yann Alleman, co-founders of the blockchain analytical platform Glassnode, are outlining a plan for Bitcoin (BTC)<\/a> to return to six-figure levels and higher. Their study provides a thorough examination of the factors that might contribute to the next spike in the price of bitcoin by referencing both recent and historical market cycles.<\/p>\n

Liquidity and Market Growth as Key Drivers<\/strong><\/h2>\n

Happel and Alleman, who operate under the social media handle Negentropic<\/em>, compare Bitcoin\u2019s current market situation to a similar phase in late 2020 to early 2021. During that period, Bitcoin faced a price correction while liquidity flowed out of the market. Despite the price drop, network growth continued to rise. The co-founders suggest that when liquidity returned to the market, Bitcoin\u2019s price surged sharply.<\/p>\n

According to Negentropic<\/em>, the resurgence of liquidity could play a major role in a potential price increase. \u201cThis suggests that we could potentially see a price pump once liquidity flows back into the market and the price does not drop to lower levels as long as network growth remains at bullish levels.\u201d<\/em><\/p>\n

Despite the optimism around Bitcoin\u2019s future, market sentiment remains mixed, particularly when it comes to profit-taking. As the market approaches price levels around $90,000 to $100,000, long-term holders have begun to cash out, creating selling pressure. Glassnode and Swissblock, in a joint post, highlight that this profit-taking has been ongoing but is gradually losing intensity.<\/p>\n

\u201cProfit-taking above $90,000 and near $100,000 has persisted among market participants (no surprise, as long-term holders continue to take profits). However, this selling pressure is gradually losing intensity,\u201d<\/em> they noted. For Bitcoin to continue its upward momentum, it\u2019s essential for profit-taking to calm down and avoid heavy selling that could cause significant market fluctuations.<\/p>\n

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Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Jan Happel and Yann Alleman, co-founders of the blockchain analytical platform Glassnode, are outlining a plan for Bitcoin (BTC) to return to six-figure levels and higher. Their study provides a thorough examination of the factors that might contribute to the next spike in the price of […]<\/p>\n","protected":false},"author":34,"featured_media":44332,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/44331"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=44331"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/44331\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/44332"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=44331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=44331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=44331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}