A lot of cryptocurrency clients/consumers actually like the fact that the shape of the market most times is determined by sentiment. In 2017 when we saw major price movement upwards towards 20k, we also saw the highest spike for the search term Bitcoin on Google; analysis shows that trends correlate with the market.
Watch Clip Here:
Amount of Bitcoin Movement through the years
The amount of Bitcoin that has been in the same state in more than a year has a website all-time zenith. The last peak was during the year 2017. Before that year, the bitcoin bull run saw an increase in prices by twenty thousand dollars. Different forecasting models predicted that the amount Bitcoin would be sold would reach close to twenty thousand dollars per bitcoin this year and future bull run could begin as soon as the month begins.
From available data, you can see the resemblance to a bull run. The amount of bitcoin that has remained over the year was at 61.59% of all supply from Monday. According to intelligence blockchain provider Glassnode, this signifies an all-time high.
Unmoved Bitcoin Data which broke record sparked an expectation of the expected bull run everyone
The amount of Bitcoin that has stood completely still in over three years according to Glassnodes provided data is about forty-four percent and it has also approached a brand new level. This data after being analyzed by technicians and analysts showed that we are presently in a period of sustained holding. Glassnode stated during its last publication that the clear holding behavior is macro for bitcoin. And it is supported by its narrative that Bitcoin is a store of important value.
The company settled and elaborated saying it showed that investors were excited with how the prices were remaining. It was better to hold your Bitcoins than to sell them: This suggested that the prices would likely go up.
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Your story and bad experience on the other community has been published in one of the biggest Korean Crypto- community cobak.co.kr
https://cobak.co.kr/community/3/post/371288
It is there now a top trending post. Hope that will help in awareness of your really bad experience there, which I am sorry for. Wish you all the best and keep up with your work~!
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I consider myself an ignorant person in cryptology, but with a thirst to learn, so I appreciate that there are people like you informing, offering their knowledge about BTC and other crypts. I also believe in freedom of expression, respect, solidarity and the need for human beings to live in peace and harmony. Feel at home at steemit and keep offering those cryptos data. Greetings from Venezuela
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Thanks so much! Thats all really nice of you to say!
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I'm trying to amp up my intrinsic understanding of blockchain tech, especially with DeFi having such an impact right now.
I'm happy I discovered your channel. You seem really educated and a pleasant person.
Thank you for the information!
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Wow!!! That is very reassuring as many investors are caught in a delimma as to whether to hold on to their bitcoin or to sell them at their current value. The various bulls you described as well as the trends has surely made me optimistic about bitcoin. Thank you for this!
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Of course! I'm excited to see the future for this space, more and more good sentiment coming in from mainstream every day!
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hye sister. i saw that few people are reached you blog. you . you are most well come to "steem Bangladesh" communuty. We are all member read every blog posted in this comunity..
Every community want these kinds of person who is working with Bitcoin and cryptocurrency and you are one of them. I am happy to called you and invite . you can join our community and you can post in our community .
thank you very much for your wonderful blog.
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I'm a beginner when it comes to crypto and all these past days I've been trying really hard to learn on my own... of course, doing it this way is pretty hard sometimes, so all this material that you've posted will be a huge help for me!
Thanks a lot, hope to see more of you!! :)
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Of course! Happy to be of any help to you! Thanks for checking out my posts!
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You have shown how much respect you have for every human by coming out to speak without considering oppositions.
Its all sentiment.
As for me, I'll keep STEEMING, and i trust that everyone here will steem together with me!
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Nice insights on what's so happening in the crypto space. Also hoping to see a thing or two on your blog concerning the DeFi world.
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Market sentiments are one of the great ways that some traders use in determining whether to go short or long on a financial asset. I agree with you that the statistics and historical data of bitcoin over the years do correlate to the google trends.
Bitcoin has always been a good example to the entire crypto space. Always setting the pace for other cryptos to follow. No wonder its plenty of traffic in google searches as many people are eager to know about it.
Since the bitcoin has crossed 10k price now after the recent halvening that happened a few months back, I believe it's just going to keep pushing upwards back to that 20k price even beyond. hehe.. because of this sentiment, I now feel like going bullish on Bitcoin so that I moon with it.
Thanks so much for the information and knowledge laid down in this blog.
Glad to have such a valuable person to the crypto space on the steemit blogging site. Will keep following as I am a big fan of all things to do with crypto.
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Yes, definitely interesting to watch these trends develop! I am also bullish on Bitcoin. Thank you so much - I really appreciate all the kind words! I will continue to post new crypto content and happy you are following!
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Thank you for being awesome! You just got upvoted by the @steemingcurators. We are voting with the Steemit Community Curator @steemcurator02 account to support the best content on Steemit!
Follow @steemingcurators and also the official @steemitblog for info about Steemit, contests and the Daily Diary Challenge! Share your stories on Twitter or other social media to get extra upvotes. Just comment the link in your posts!
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Follow @musicforsteem and the official community on Steemit: MusicForSteem🎵
STEEM ON!
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Hi Rachel! It is absolutely correct and market sentiment will ultimately set the price in the coming bull run.
People are already talking more and more about Bitcoin and you see that effect in the price of BTC!
Thanks for sharing your insights and knowledge with the Steemit community. Nice to have you!
Ciska, from the Steemingcurators!
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Thank you Ciska! Happy to be here! Totally agree with you! Definitely interesting to take a look at sentiment analysis
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Thanks for STEEMING!!! Great to have you X
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Thank you!
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