Dear Readers,

As you know that BTC was in a consolidation mode for more the past 1 month and now it breaks out.

The much anticipated movement in the price of BTC post the BTC ETF spot approvals failed. Indeed since the news of approval, BTC nose dived to 38000 USD and from there there was a recovery thereafter.

But many analysts predicted that there will be a spectacular movement in the prices of Bitcoin which we were covered in the recent article. That is fantastic and very hard to believe indeed. Click here to access it if you missed it out.

One of the major positive factor in the price bullet of Bitcoin is that the major withdrawal of Bitcoins from the Crypto exchanges to a value of 1.1 billion ( ~ 23,305 BTC) in the past two weeks. 

With this it witnessed the lowest ration of BTC on the exchanges since December 2017. 

This is considered to a a positive signal for the BTC holders, deemed that there is a considerable upward movements towards the crypto traders in total.

The other Sources indicated that of the selling pressure from the ETF holders and miners have been eased in the past week while BTC prices have increased. This also indicated the high demand for BTC. 

Incidentally the Bitcoin reached this landmark price of 46000 USD during the celebration of Chinese New Year. 

At present BTC trades at 46305 USD, a higher of 4% from yesterday and 7% from last week. 

Bitcoin considered to the volume leader in crypto trading. 

BTC is heading towards the halving process where there is a short time dip. But many anticipate that it will reach All Time High soon- even in 2024. 

Largely speaking while BTC going lower, many investors are not happy with Bitcoin and show negativity around it. Contrary to it, on every surge, BTC is being celebrated widely by the crypto traders.  

There are news flashes in the media that people prefer to invest BTC over Gold. This shows the choice of investment is being changed from the traditional investing pattern as well. 

Let's explore BTC further!