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This will be “one of the last chances” to buy Bitcoin before the recovery

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Important facts:
  • According to NodeCharts, Bitcoin is currently in a recapture phase.

  • “We will go back to prices above $70,000,” the forecast says.

“It was necessary for me to take a sigh of relief,” he said in step back, watching the price of Bitcoin (BTC) surge 90% in two months to a new all-time high (ATH). This is what the analytics and metrics company tells us on-chainNodeCharts, in a report, highlights how good this could be for investors.

“This could be one of the last opportunities for users who are not yet in the market or who have liquidity who want to get into Bitcoin,” express, the reason is that It is expected that demand will strengthen, due to which prices will increase.,

NodeCharts explained that when more Bitcoins are sold at losses than profits during a price decline, “those are ideal points to consider market entry operations.” And it highlights that such an event, which rarely happens in bull markets, is now happening for the second time this cycle, as the following graph shows.

In red we see the sale of Bitcoin at a price lower than the purchased price and in green we see the profit. Source: Nodecharts.

“This is because less experienced users enter unfavorable areas and decide to sell their Bitcoin after seeing a 20% loss,” he explains. Meanwhile, he explains The most savvy investors take advantage of this liquidity by purchasingWhich prepares the ground for the next bullish impulse in these sectors.

In fact, he noted that, given the decline in sales, bulk addresses Bitcoin They have already started restocking At prices above $60,000 (USD). This prevented it from falling through that area after falling from the all-time high (ATH) of $73,700 last week, as seen below.

Bitcoin price per day in the last month. waterfall: trading view,

Massive Buying Prices Show Potential Bitcoin Support

According to data from NodeCharts, nearly 2 million Bitcoins are currently in unrealized losses, the largest amount in more than a year, and all belong to users who acquired them in the last month. “This value is quite relevant and shows us the points where setbacks may occur,” he explains, as the market may be motivated to protect this area with more demand.

consider it in this sense $60,000 may be the lowest point of the correction, “For the time being, we remain very optimistic about continued growth and we anticipate a very strong year in the crypto sector in 2024,” the market specialist company concluded.

Meanwhile, other market analysts say the coin may test support at previous strong levels, such as $58,000, to regain strength. As reported by CirptoNoticias, they include traders known as Cryptorover and SantinoCrypto.

According to an analysis shared by the data company on-chaincryptoquant, Bitcoin’s bullish trend may return before the middle of the year, He attributes this to the increase in purchasing power that institutions and whales may have to invest in the currency in the event of macroeconomic reforms.

Meanwhile, big traditional investors are showing interest in investing in Bitcoin. This is reported by experts in the wealth management and asset administration industry, which is seen as a bullish sign.

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