Posted 1/14/2024, 2:50:00 PM
Cathie Wood: Bitcoin Bulls Charge Ahead Despite Lingering Uncertainty
- Bitcoin ended 2022 strongly, surpassing key technical indicators that suggest it is in the early-to-mid stage of a bullish trend
- Long-term Bitcoin holders are starting to take some profits, but selling pressure could remain low until higher prices are reached
- 90% of the Bitcoin supply was sitting at a profit at the end of December - last seen at $58,900 in November 2021
- Bitcoin miner revenue increased 26% in December 2022 compared to November, attracting more miners and doubling mining difficulty since December 2021
- Sustained growth in mining difficulty reinforces Bitcoin's security, decentralization, and long-term value proposition as the most robust blockchain