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Home»Web 3»This is not normal…
Web 3

This is not normal…

2024-02-28No Comments1 Min Read
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TL; DR

  • BTC just hit $57,000, which means we are only 25% away from all-time highs (violent run-ups prior to the halving are historically NOT common).

Full story

“Absolutely no respect.”

“Where is the sense of tradition?”

“You’re going to upset a lot of people.”

These are all things muttered around our office (usually to ourselves or on our computer screens) – but all focused on the price of Bitcoin.

In the few hours since we made all that fuss celebrating BTC’s price hitting $54,000 for the first time since 2021, the damn thing went and claimed $55,000…

Then $56k…

Then $57k!

Meanwhile, showing absolutely no respect for short sellers, who bet – and lost – $157M where we bet the price would drop.

Now, here’s the kicker:

The Bitcoin halving it’s still over a month away, and we’re only 25% away from all-time highs – moves that are not uncommon in crypto.

(Bitcoin is up 10% in the last seven days alone).

What is unusual in this situation is seeing such a violent run-up before the halving (in the past the price had a habit of collapsing at this point).

Enjoy the ride, folks!

Source link

See also  Bloomberg Analyst predicts huge but historical 'normal' market crash for bitcoin, oil and stock market
normal
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