The Current Price Of Bitcoin And The Demands Of The Exchanges (Coinbase and KuCoin) Are impacting The Cryptocurrency Market Linked To Greater Participation by Retail Investors.

oscardavid79 (72)Authorised Userin Steem Alliance • 4 months ago (edited)

"The Current Price Of Bitcoin And The Demands Of The Exchanges (Coinbase and KuCoin) Are impacting The Cryptocurrency Market Linked To Greater Participation by Retail Investors."

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I will analyze the current price of Bitcoin and how lawsuits against exchanges like (Coinbase and KuCoin) are impacting the cryptocurrency market.

Bitcoin Price Movement?

The value of Bitcoin ranges between 68,900 and 71,400 dollars today.
A green week is expected, but reaching new highs may be difficult.
The fight between supply and demand affects the price of Bitcoin. Currently, it stands above $71,000.

Lawsuits against Intermediaries?

Coinbase and KuCoin face lawsuits in the US, reducing the odds for these exchanges.
Coinbase lost a legal assault against the SEC in the US, which will influence its price during 2024.

Impact on the Market?

Lawsuits affected the price of Bitcoin. KuCoin joins exchanges under scrutiny.
Despite the initial setback, Coinbase shows recovery after the negative news.

Future perspectives ?

Despite legal challenges, optimism remains in Bitcoin-related stocks.
Confidence in investments prior to ETF approval drives massive purchases before and after January.

Analysis of Bitcoin Purchases and Sales in ETFs?

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The impact of Bitcoin purchases and sales on ETFs in the market is analyzed, highlighting how these transactions influence the price and availability of the cryptocurrency.

OTC Bitcoin Shortage and Coinbase Withdrawal?

A shortage of Bitcoin is observed in the OTC, evidenced by the decrease in supply on Coinbase.
Coinbase is about to have less than 300,000 Bitcoin due to massive purchases made by ETFs, significantly affecting the price.

Positive Impact on Price?

Various ETFs have purchased large amounts of Bitcoin, with Black Rock and Fidelity leading with more than 498,000 purchased.
Despite the sales made by Grayscale, the balance sheet shows a net acquisition that has positively boosted the price.

Continuous Accumulation ?

ETFs continue to add Bitcoin to their portfolios daily, suggesting a sustained bullish trend.
The accelerated pace at which Bitcoins are being acquired could exhaust the supply available on exchanges.

Future Supply Reduction?

The expected reduction in monthly Bitcoin production by miners may intensify the shortage if ETFs maintain their current pace.
The analysis shows how massive purchases could lead to a continued increase in price due to the limited supply available.

Perspectives on Price Trends and Macroeconomic Factors ?

In the possible future scenarios for the price of Bitcoin, considering both current trends and relevant macroeconomic factors that could influence its value.

Profit Taking and Market Behavior ?

During a recent pullback, significant profits worth millions were taken, but the price continues to show bullish strength.
Much of the profit-taking comes from investors who acquired Bitcoin months or years ago, which indicates long-term confidence.

Potential Impact of the Macroeconomic Context?

The importance of the macroeconomic context is highlighted as a key factor that could affect the current bullish trend of Bitcoin.

Conclusion.

Analyzing the price of Bitcoin and demand on exchanges reflects an enthusiasm where the increase in the price of Bitcoin is linked to greater participation by retail investors.
This increase in the price of Bitcoin is combined with an increase in the monthly average number of daily active users and which empathizes with a growth in its adoption.

It is also observed that the price of Bitcoin has a significant valuation with the entry of new users, even when controlling for financial factors and specific conditions of each country.
The importance of demand and supply in the Bitcoin market is highlighted and where an increase in the projected additional market capitalization could drive the price of Bitcoin to significantly higher levels still such as $122,000 and potentially up to $270,000, according to different analyzes and future projections.

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