On May 12, the price of Bitcoin reached $ 105,722, which, according to analysts, confirms the strengthening of a bull attitude in the cryptornka. According to Dan Lim, known under the pseudonym Crypto Dan, an indicator of the realized bitcoin price, reflecting the average purchase price of all VTS in the market, is growing. This indicates that investors acquire an asset at more and higher market prices. Lim noted that this is one of the key indicators of the current cycle, since the demand for bitcoins remains high even at levels above $ 100,000.
According to Cryptoquant, such patterns were previously accompanied by the further increase in the cost of the first cryptocurrency, which potentially pushes it to achieve new historical maximums of $ 108,000 or more.
Analysts noted that the Bitcoin bull mood index jumped from 20 to 80 points, signaling the return of optimism among traders. At the same time, the jump coincided with the growth of spawning demand and an increase in the number of opening new wallets. So, by data Santiment, 344,620 new Bitcoin addresses appeared over the past week, which reflects the influx of retail investors against the background of FOMO and the growth of VTS price up to $ 103,800.
According to Cryptoquant experts, optimism regarding the growth of bitcoin is reinforced by macroeconomic factors, including the expectations of soft monetary policy and growth of interest in cryptocurrencies after the head of the US Secondary Berry and Exchange (SEC) Paul Atkins.
Source: Bits
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