Analysis: Bitcoin is currently in its fourth cycle, and the current position indicates the risk of overheating of the currency price in the short term

Bitcoin is about to usher in a "halving" around April 20. In addition, miners are selling Bitcoin. According to Glassnode statistics, as of April 12, the balance of miners' wallets was 1.806 million Bitcoins, which is in a continuous downward channel. 10xResearch pointed out that Bitcoin miners may sell BTC worth $5 billion after the halving. Guojin Securities analyzed that according to historical data, Bitcoin is currently in the fourth cycle, and it is still judged to be in the early stage of this round of market. As of March 2024, Bitcoin has recorded its seventh consecutive month of increase, which has exceeded the number of consecutive months of increase in the bull market from 2020 to 2021. In history, only the number of consecutive months of increase from March to September 2012 reached 7 months. The current position indicates the risk of overheating of the currency price in the short term. (Guangzhou Daily New Flower City)