November 27, 2022

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Bitcoin stijgt hardst sinds oktober 2021 terwijl aanbod blijft dalen

Bitcoin Rising Fastest Since October 2021 As Supply Continues Low

Bitcoin (BTC) It was a very strong month. The price rose more than 20% in July, and this is the strongest increase since October 2021, shortly before Bitcoin high all the time (ATH) from $69,000.

So the market sentiment started to become more positive. However, Bitcoin is still about 66% below ATH and the market is mainly talking about a alcohol market or Relief March And not far from one bull market.

Bitcoin price rose 20% in July, but is down 1.2% today

The Bitcoin price It was just under $19,000 on July 1, and peaked at $22,000 a week later. Then Bitcoin was rejected here and fell to $19,000, but then rose again and then peaked at around $24,200 on July 20.

The price then quickly declined again, but this time found enough support at the $21,000 level and then resumed its rally. Last Friday, Bitcoin slipped again at $24,000, but the resistance was still too big.

However, yesterday afternoon bitcoin briefly breached this afternoon and peaked at $24,600, the highest price since June 13. After that, bitcoin quickly rallied again and failed to recover $23,800 this morning.

BTC is currently at $23,700 KuCoin and 23,200 euros bitvavo. So, the BTC rate is 1.2% in minus today, but 5% in plus this week and 20% in plus this month.

Bitcoin and the 200-week moving average

200 weeks moving average It acts as a major resistance level for the first time in price history, as analyst Caleb Franzen points out below. The 200-week simple moving average (SMA) is currently around $22,800 and the 200-week exponential moving average (EMA) is around $26,750. If the price breaks through this, and this area turns into support, it could be rising Be a sign.

Then the price of BTC may first have to stay above $23,200, as Decentrader points out below. it will be high low This could also be a bullish sign. If that doesn’t work, a lot of support should be around $22,200 and now $22,500. However, this does not mean that a drop below is excluded.

Bitcoin continues to fall on exchanges

Meanwhile, the amount of bitcoin on exchanges continues to decline. Since March 2020, BTC exchange balances have fallen by 4.6%, according to analytics firm Glassnode. The exchange now has only 12.6% of the circulating supply, or 2.4 million BTC. It is a sign that investors are holding more and more BTC and this is bullish for the long term.

Additionally, the On-Chain College analyst reports that the number of addresses holding at least 0.01 BTC is also continuing to rise. This is now over 10.5 million titles.

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