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Bitcoin 'supercycle' sets up Q4 BTC price top as illiquid supply hits all-time high

Published 07/31/2021, 11:25 AM
Updated 08/01/2021, 02:40 AM
Bitcoin 'supercycle' sets up Q4 BTC price top as illiquid supply hits all-time high

Bitcoin (BTC) is gearing up for a comeback which should lead it to repeat classic bull run years 2013 and 2017, analysts are arguing.

As $42,400 local highs appeared on July 31, narratives around the market are flipping back to a bullish Bitcoin "supercycle."

BTC/USD 1-month annotated candle chart. Source: Jeff Ross/ Twitter
Bitcoin illiquid supply annotated chart. Source: Lex Moskovski/ Twitter

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GoldenTree asset management, an investment firm founded in 2000 by Steve Tananbaum, has reportedly been stockpiling Bitcoin for several years now. The firm, which holds over $45 billion worth of assets under management, has made its move into the crypto space by acquiring an undisclosed amount of Bitcoin.
Bitcoin is trash
You are trash
you are the same
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