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Bitcoin continues to advance based on the prospect of its future shortages

Bitcoin continues to advance based on the prospect of its future shortages

Bitcoin continues to advance based on the prospect of its future shortages
Bitcoin

 BTC / USD KEY POINTS:

Bitcoin advances for the seventh consecutive session and exceeds $ 11,000.
This new impetus seems to take place due to factors relevant to the future production of Bitcoin.
Technically speaking, the outlook remains in a bullish continuation towards $ 13,412.

BITCOIN ANALYSIS:

Bitcoin manages to conquer once again the $ 11,000 per token. This achievement takes place after, since last Wednesday, the main cryptoactive one operated unidirectionally upwards. From the accounting aspect, this favorable action, which has taken less than a week, has given BTC / USD an appreciation close to 30%. Under a broader scope, and taking as a reference the minimum depreciation point of 2017-2018, Bitcoin has managed to advance more than 250%.

From the fundamental perspective, this rally has been fueled by purely speculative factors, diversification in risk taking, fortification of the cryptoactive project and more recently by factors inherent in Bitcoin itself.

Regarding the characteristics of BTC, the prospect of investors continuing to acquire the cryptocurrency has recently emerged, given that as early as next year, the mining process could reduce the accumulation rate of that currency. In current terms, after the process, the miners are compensated at a rate of 12.5, for the purpose of approximately 300 days, this rate will be reduced by half.

Consequently, this factor, which is relevant to the production of Bitcoin, has meant that future supply constraints will make the acquisition of BTC more attractive for the time being.

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