Bitcoin can grow up to $ 50,000
According to data on the purchase price of addresses active on the Bitcoin network, this digital currency has a chance to grow to the level of $ 50,000 in the coming days. In addition, upward signs can be seen in the atrium network.
To Report Crypto Slate, long-term investors continued to accumulate bitcoins during the first quarter of 2022, which is one of the main reasons for this week’s uptrend. According to data from the analytical website IntoTheBlock, following the re-crossing of bitcoin over $ 48,000, the holders of holders who have been holding bitcoin for at least a year have now reached their peak.
These holders have increased their inventory by 17% since the end of November (November), and in the first quarter of 2022, they continued the process of accumulating new units as before, while maintaining composure. The path against bitcoin seems clear, and if broken by a few key resistances, it could reach $ 50,000.
An event that could bring Bitcoin to $ 50,000
The Investor Profit and Loss Index (IOMAP), provided by analyst firm Into de Block, identifies key levels at which bitcoin traders may become more active as prices reach them. The IOMAP index actually shows how many units of a currency have made a profit for their holders and how many have made a loss.
The key resistance level of bitcoin is near $ 48,479, at which price 2.38 million addresses, 1.16 million units of bitcoin have been purchased. Crossing this level can bring Bitcoin to $ 50,000 in the next step.
The price of bitcoin is now at its highest level since the beginning of 2022, according to the analysis of data within the Santiment chain. According to Centiment, the growing volume of shorts (sales) positions in the futures market of exchanges is one of the main reasons for last week’s jump in prices to current levels. The highest price level of Bitcoin in the last 11 weeks is recorded while fears of inflation, war and the Corona virus have all dropped significantly, and Bitcoin traders have gained more than 10% in the medium term.
At the time of writing, the price of Bitcoin has remained virtually unchanged for the past 24 hours, rising 11 percent in the past week and is now near $ 47,700. The current price of Bitcoin also shows that the total market value of this digital currency has just exceeded $ 900 billion. However, Bitcoin is still about 31.3 percent away from its all-time high of $ 69,000 on November 10.
Bitcoin investors have a lot of faith in their assets
According to data from the analytical website Glassnode, because holders have not yet sold the bitcoins accumulated in the first quarter of the bullish market in 2021, the share of bitcoins that have been sold for at least a year has not been sold close to their maximum. It becomes. This generally shows that bitcoin investors have a strong belief in the value of their assets, despite the negative impact of macroeconomic factors and the conflict between Russia and Ukraine.
Comparing the current changes in bitcoin supply with previous periods, it seems that this digital currency has entered the second half of its declining market. However, holders with older bitcoins have sold a bit, which could be a smart move to reduce investment in this digital currency. However, it seems that a heavy accumulation has been made in the range of $ 35,000 to $ 42,000 to absorb the sales pressure of this area.
Atrium, meanwhile, is showing signs of rising, according to sentiment data. The number of Atrium addresses with more than 10,000 tokens has reached its highest level (1,329 addresses) since December, and this number includes 40 other addresses that have been created in the last five weeks. Market data provide clear evidence of a correlation between the number of whale addresses and future price movements.
Atrium exchanges are rapidly declining
Atrium on Wednesday saw another major outflow from exchange offices. According to Into de Block, more than 180,000 atrium units were removed from centralized exchange offices in a single day, the highest amount of atrium removed from exchange offices in 2022. The atrium reserves of centralized exchanges are declining rapidly in 2022, down more than 1.08 million units since the beginning of the year.
Following this large outflow, the price of Atrium has risen by 32%. In addition, in March alone, the amount withdrawn from centralized exchange offices reached a total of 1.268 million atriums, which is another sign of the rapid decline in atrium exchanges’ inventory.
At the time of writing, Atrium is trading at around $ 3,422, up 2.2 percent yesterday and growing 14 percent in the last seven days. Looking at a longer period, Atrium prices have risen 33.3 percent in the past two weeks and 95.8 percent in the past year. However, Atrium is still 31% away from its all-time high of $ 4,878 on November 10. The total market value of Atrium is now over $ 410 billion.