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Bitcoin just starts – big profits are expected

Bitcoin is currently in flames and has risen nearly 19% since last Sunday. Additional profits are likely, as Bitcoin just goes into position.

Bitcoin breaks through $ 11,000

After BTC broke $ 10k yesterday, many profits were expected – followed by a withdrawal. Cryptocurrency # 1 once again defective forecasts and moved higher and achieved an intraday high of $ 11,200, according to Tradingview.com.

Since then, BTC has been under $ 11,000 and is floating around $ 10,700 where consolidation seems to begin. The daily volume has risen to $ 30 billion. Bitcoin's market value has reached nearly $ 200 billion over the weekend.

Reaching the five-digit milestone has opened the gates to the masses, which are likely to be transferred by FOMO – as of the end of November 2017, when BTC rose to its full-time in just 20 days from a similar price.

Bitcoin Transactions and Hashrates Reach All Time High

The network looks healthier than ever. The number of bitcoin transactions is full time at most 427 million according to the charts. The bitcoin hash rate, which corresponds to the network's computing capability, is also high at over 60 EH / s according to metric values ​​at all times. The statistics speak for Bitcoin, ATH has also resulted in the mining events that BTC for miners is more profitable than the competition chains BCH or BSV.

In addition, Bitcoin is now being distributed to ordinary people and not just whales, Nearly 20 million BTC addresses today have more than one dollar Bitcoin – it was still a few years ago different.

333 days to halving

Bitcoin halving also goes into the mix in May 2020. We saw all the Litecoin profits because the coin is approaching its block halving. If something similar happens to Bitcoin at the beginning of next year, BTC may rise another 200 percent in a very short time.

Halving will reduce inflation from 3.77% to 1.8% as the premium of 12.5 BTC is reduced to 6.25 BTC. This exacerbates scarcity, which usually leads to increased demand. Over 84% of all Bitcoin has already been recovered – and with 17.7 million in circulation, the price can only go in one direction. In the not too distant future, it may well be people who are called "full coins" because they are fortunate to own a whole BTC.

Text money: bitcoinist

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