Bitcoin’s Valuation Suggests It Will Never Drop Below $35,000
Despite a recent slowdown in gains, Bitcoin (BTC) is currently trading above the significant price level of $37,000. According to certain indicators, there is a strong possibility that this decentralized finance (DeFi) asset will never go back under $35,000.
On November 26, Bitcoin’s valuation based on its mining difficulty reached $35,000. An anonymous cryptocurrency market analyst known as PlanB believes that this represents a critical level below which the crypto asset will never drop. The analyst explains that unless unexpected events or short-term volatility occur, BTC will only continue to grow based on arbitrage fundamentals related to energy costs.
In light of the potential approval of a first spot Bitcoin ETF and an upcoming halving event that historically leads to significant price increases, it is possible for Bitcoin to meet the analyst’s expectations and remain above the $35,000 mark indefinitely.
Hot Take: Bitcoin’s Future Stability
Based on analysis and indicators related to Bitcoin’s valuation, there is a strong likelihood that the cryptocurrency will not drop below $35,000 in the future. This stability can be attributed to various factors such as energy cost arbitrage and upcoming market events. If these conditions persist, Bitcoin could continue its growth trajectory and potentially reach new highs.
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