Bitcoin (BTC-USD) Demand Reaching New Highs

March 17, 2021

Bitcoin (BTC-USD) Demand Reaching New Highs

Last weekend, the price of Bitcoin (BTC-USD) rose to a record high, trading above $61,000 – Our data shows that it's still being propelled by strong underlying demand from individual investors.
Mentions of purchasing BTC peaked on a 30-day moving average 3 days ahead of the move to a new ATH price, currently trending +357% YoY. This fact alone is a bullish sign for the cryptocurrency, but we’re also seeing a significant influx of Mentions indicating plans to invest the coming $1400 stimulus check into Bitcoin:
'Stimmy' related Bitcoin demand is up +230% vs. the previous high (4/22/20) on a 30-day moving average. As the checks start to arrive, expect to see more bullish price action across the crypto markets at large.

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