Bitcoin’s Bullish Future: Why BTC’s Long-term View Still Looks Promising

Quick Summary:

After Bitcoin‘s recent price recovery from a major downswing last week triggered by a broader market decline, investors and traders have been speculating on the crypto asset’s performance in the short and long term.

According to CryptoQuant, a leading on-chain data provider, the total number of BTC held in centralized exchanges in the period of one month now boasts 2.68 million BTC, valued at a whopping $161 billion, marking its lowest level in the past 5 years.

Mags’ insights come at a time of recent market fluctuations, triggering fear and uncertainty around Bitcoin and other major cryptocurrencies.

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Article Details

Author / Journalist: Godspower Owie

Category: Crypto

Markets: Hungary

Topics: Uncategorized Bitcoin CryptoQuant BTCUSDT LTF Lower Time Frame Mags Btc Btcusd

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-12 @ 10:00:59 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 489 words

Reading Time: 3 minutes read

Sentences: 30 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 22034094

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 18 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 8 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #105

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