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Seeking Alpha
2021-04-09 01:07:00

Bitcoin Facing Bullish Supply Constraints

Technical analysis suggests that the month-long consolidation period in Bitcoin price will end in 1-2 weeks.Miners are no longer selling Bitcoin because they have successfully covered operating costs.Institutions are pulling Bitcoin into long-term cold storage at a pace never before seen in previous market cycles.This double supply constraint suggests we are in for a price rally.

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