The future Bitcoin value may look very different from the price point people see today. That is most people’s expectation, at least, although it remains to be seen how the reward halving factors into all of this.
There are many factors influencing the current Bitcoin price.
Where is the Bitcoin Price Headed
Ongoing coronavirus concerns have made its impact on cryptocurrencies as well.
Whether it is simply the price, the mining, or any other aspect, several changes have come and gone in quick succession.
If the Glass Node team is to be believed, there is plenty of Bitcoin price momentum to look forward to.
The data and intelligence platform firmly believes that the value per BTC will rise after the halving.
In fact, the report states that a steep price increase is not out of the question by any means.
After overcoming the dip in late March and early April, things are looking good for Bitcoin right now.
The report also mentions how users are also withdrawing more funds from exchanges, perhaps in anticipation of a future Bitcoin price rise.
All of these facts are interesting, but primarily speculative in nature.
No one can accurately predict the momentum for any asset, whether that is a cryptocurrency, stock, bond, or otherwise.
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