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Bitcoin (BTC) Price Analysis: Experts Reveal a Supply Squeeze Imminent
A recent report by CryptoQuant has revealed that Bitcoin’s mining reward has been consistently below demand since the last halving event. This imbalance will likely lead to a massive rally for BTC.
Bitcoin mining, which is responsible for the creation of new coins, has not kept pace with the rising demand from investors and institutions alike. As a result, the current supply squeeze will have severe consequences on the market.
CryptoQuant’s data shows that Bitcoin miners are not able to produce enough new coins to meet the increasing demand. This lack of supply is expected to push prices significantly higher over the long term.
While this may seem negative for short-term traders, it’s essential to note that Bitcoin mining can only produce a fixed amount of new coins per block, which means the scarcity will continue and worsen as time goes on.
In the face of these predictions, there are many who believe that Bitcoin is about to embark on an unprecedented rally.
Source: u.today
