Latest BTC Demand Model Shows A Clear Growing Trend: Analysis

The latest BTC demand model shows there is a clear growth trend that has high demand in dollar terms increasing by 2.2 times per year. In our Bitcoin news now, we take a closer look at this model.

The biggest mystery for Bitcoin is whether the upcoming halving event would cause a huge price rally since the Skeptics already see the possibility of getting distant.  The bitcoin network has grown over the years and has a lot of real-world usages. More fiat money got into the Bitcoin network for multiple purposes including mining earnings and speculative trading but the Bitcoin network has kept growing the active addresses and transaction count as well.

Whether Bitcoin will grow in popularity even more and will invite new fund inflow is still only a guess. If a halving rally does not start shaping up the price, some kind of a bullish price could materialize. The probable day of the halving brought many bitcoin price predictions with it ranging from $16,000 to as high as $60,000. The actual inflow of funds into the bitcoin network is very hard to determine as they come from multiple sources including fiat but mainly stablecoins.

It has to be noted that over the years, the price of the leading cryptocurrency has always taken off dramatically once a block reward halving happens. This time, it is very unsure if the latest BTC demand model could predict whether Bitcoin will enter a spiral into a self-fulfilling prophecy or it will fail to give way to proportionate another rally. Currently, the Bitcoin price failed to set a new record but there could be signs of renewed interest and accumulation as well.

Bitcoin also has a good chance for an extraordinary upside which makes the investors forget about the risk of the price hitting rock bottom or returning to a much lower level. The possibility of a far-reaching scenario where the price rallies to a new all-time record will cause at least some of the traders and investors to start betting on an upcoming rally. The price of the number one asset by market cap is currently standing at $8762.