The current Bitcoin cycle is witnessing a 656 % increase, and is suitable for the frequency of maturity on the market
Bitcoin BTC/USDThe world’s leading cryptocurrency currency has recorded a 656 % increase in its continuous session.
According to the Glassnode Data Analysis Company, Bitcoin witnessed an increase of 1076 % from 2015 to 2018, an increase of 1007 % from 2018 to 2022, and in the current session that started in 2022, Bitcoin has already spanned 656 %.
Even with the largest market value of Bitcoin today, it was linked to $ 2.08 trillion, its performance in this course is approximately equally with the previous performance.
This means that the growth in demand is identical to the maturity of bitcoin, which indicates the interest of a fixed investor.
Also read: The bitcoin whale appears a decade of age, and it turns $ 207.51 million from BTC with about 112,000 % of profit
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Glassnode highlights a unique double aspect in the current Bitcoin cycle. There is a simultaneous occurrence to increase the long -term spending sizes (LTH) and a larger size of metal currencies that advance in maturity. The new market structure is likely to be affected, as the LTH wealth appears more flexible than it was in previous sessions, through the appearance of investment funds circulating in the instant Bitcoin and increased institutional participation.
The price of Bitcoin witnessed some fluctuations, as it decreased to its lowest level at $ 100,377 on June 5, then gathered to an increase of $ 11,651 on June 9, before profits occurred.
At the time of writing this report, Bitcoin was trading at $ 105,061, while maintaining a $ 100,000 psychological importance, indicating the strong investor confidence.
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