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Latest BTC Demand Model Shows A Clear Growing Trend: Analysis

Stefan by Stefan
11/11/2019
in Bitcoin News
Reading Time: 2 mins read
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Bitcoin Eyes Another, btc, price, market, support, level
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The latest BTC demand model shows there is a clear growth trend that has high demand in dollar terms increasing by 2.2 times per year. In our Bitcoin news now, we take a closer look at this model.

The biggest mystery for Bitcoin is whether the upcoming halving event would cause a huge price rally since the Skeptics already see the possibility of getting distant.  The bitcoin network has grown over the years and has a lot of real-world usages. More fiat money got into the Bitcoin network for multiple purposes including mining earnings and speculative trading but the Bitcoin network has kept growing the active addresses and transaction count as well.

Whether Bitcoin will grow in popularity even more and will invite new fund inflow is still only a guess. If a halving rally does not start shaping up the price, some kind of a bullish price could materialize. The probable day of the halving brought many bitcoin price predictions with it ranging from $16,000 to as high as $60,000. The actual inflow of funds into the bitcoin network is very hard to determine as they come from multiple sources including fiat but mainly stablecoins.

It has to be noted that over the years, the price of the leading cryptocurrency has always taken off dramatically once a block reward halving happens. This time, it is very unsure if the latest BTC demand model could predict whether Bitcoin will enter a spiral into a self-fulfilling prophecy or it will fail to give way to proportionate another rally. Currently, the Bitcoin price failed to set a new record but there could be signs of renewed interest and accumulation as well.

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Bitcoin also has a good chance for an extraordinary upside which makes the investors forget about the risk of the price hitting rock bottom or returning to a much lower level. The possibility of a far-reaching scenario where the price rallies to a new all-time record will cause at least some of the traders and investors to start betting on an upcoming rally. The price of the number one asset by market cap is currently standing at $8762.

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Tags: Bitcoin Demandbitcoin demand modelbitcoin pricebitcoin price predictiondemand modelgrowing bitcoin trendgrowing pricegrowing trendlatest BTC demand model
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Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

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