The leading cryptocurrency, Bitcoin, approached $50,000 with the rise that started last week, but is currently on a horizontal course at $48,000.
While this rise pleases investors, a new report from Glassnode states that BTC may see a more stable price increase. Glassnode analysts explained that a steady price increase is possible following the halving event, due to Bitcoin's lower selling pressure and increased interest in native Bitcoin-based applications.
Analysts said Bitcoin's technical fundamentals and use cases have increased significantly over the past year, making Bitcoin "stronger" compared to previous halving cycles. The report noted that despite short-term miner revenue challenges, underlying on-chain activity and positive market structure updates make this halving stand out from others.
According to Glassnode, Bitcoin's historical exposure to the possibility that all newly mined Bitcoins could be sold has brought potential selling pressure to the market, which has impacted prices. However, the annual value of 6.25 Bitcoins currently mined per block reaches approximately $14 billion (assuming a Bitcoin price of $43 thousand). With the halving, the rewards will drop to 3.25 Bitcoins per block, which will reduce the buying pressure requirements to $7 billion annually, which will alleviate the selling pressure after the halving.
As a result, Bitcoin is poised for a strong post-halving rally, according to Glassnode's analysis. He also noted that halvings make it more difficult to obtain or mine new Bitcoin, and historically this event has occurred before bull runs.
PLEASE READ CAREFULLY FOR A GIFT OF 10 DOLLARS.
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So who will benefit?
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I EXPLAIN IN DETAIL.
My brothers and sisters who have become a Binance member without reference, please listen carefully;
When you do what I say, you will receive 10 USDT.
Enter the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward until FEBRUARY 14 can do so. After activating your account, all you have to do is open your first futures transaction.
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However, even if you do this after February 14, your reward will not come. So get it done by February 14th. In fact, right now I say you can fix it in 5 seconds.
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WHEN WILL THE AWARD COME?
Your 10 dollar reward will arrive in the REWARD section of your Binance application after 14 BUSINESS days, starting from FEBRUARY 14th. By activating it from there, you can use your reward of 10 dollars, or more than 300 liras, in futures transactions.
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BY THE WAY, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. DON'T FORGET TO FOLLOW IF YOU HAVE NOT FOLLOWED YET. KIND REGARDS.
