Brace Yourself For Bitcoin Bull Run, Three Key Factors to Watch!
Bitcoin is the highest cryptocurrency and has seen wild price fluctuations, with an all-time high of $109,000 to multiple month lows of $78,000. But, since then, BTC has bounced back $88,000, leaving many wondering, what is next? These are three key reasons why Bitcoin can prepare for a large-scale comeback!
Trump’s crypto summit could be a game-changer
One of the biggest events that could boost Bitcoin is the coming Crypto Summit In the White House on March 7. Big names like Michael Saylor (Microstrategy), Brad Garlinghouse (Ripple) and Brian Armstrong (Coinbase) are expected to participate.
If the activity provides clear clarity on the government’s position and opens the door for adoption of more doors by institutions, it could inspire major rallies in Bitcoin.
Bitcoin exchange outflow indicates bullish sentiment
Another positive signal for Bitcoin is its recent exchange NetFlow trend. From Encrypted Programs The exchange of BTC NetFlow has been negative over the past week. This means more bitcoins are transferring centralized communication to private wallets, which suggests investors are holding rather than selling.
Sales pressure is reduced when fewer coins can be traded immediately, which historically sets the stage for price increases.
FOMO leads to buying opportunities
Bitcoin’s Fear and Greed Index has recently been immersed in the “Extreme Fear” area Standing at 20. History shows that when fear is dominant, this is usually the best time to buy. Even legendary investors like Warren Buffett and Baron Rothschild suggest buying when others are afraid.
If history repeats itself, this period of fear may lay the foundation for the next big rally.
