This has not happened to Bitcoin (BTC) in six years.

TL; DR

Bitcoin (BTC) surged above $38,000, the lowest since December 2017, with BTC trading down 5.38% amid declining confidence in exchanges following events such as the FTX collapse and Binance's legal troubles. BTC's bullish trend is seen as bullish, contributing to Bitcoin's significant rally of 130% since the beginning of the year. Analyst PlanB predicts a stronger bull cycle from 2024, with Bitcoin halving in 2024 and rising to $524,000 in 2027, reaching $65,000.

BTC is increasingly self-governing.

Bitcoin's recent price surge above the $38,000 level included another interesting development surrounding the major cryptocurrency. According to Sentiment, the BTC exchange has dropped to 5.38%. Such a low mark was last seen in December 2017.

The aforementioned trend may be the result of the reputation of cryptocurrency exchanges. Keep in mind that many markets have crashed in the past few years, FTX being the most glaring example. The trading platform, formerly led by the legendary Sam Bankman-Fried, filed for bankruptcy in 2022, costing investors billions of dollars in losses.

Recently, the world's largest cryptocurrency exchange – Binance – was rocked after it settled money laundering charges against the US DOJ and agreed to pay a hefty $4.3 billion fine. In addition, former CEO Changpeng Zhao (CZ) stepped down and was replaced by Richard Teng.

Switching to self-sustaining methods is considered a bullish move as it immediately reduces sales pressure.

The leading digital asset is growing exponentially, up 130% year-to-date. For those who want to know how high prices can go in the future (according to celebrities), watch the video below.

A super bullish BTC forecast

Some cryptocurrency analysts have released very positive Bitcoin predictions. X (Twitter) user PlanB recently He said he deserved it. This BTC may rise to $65,000 shortly after the next half (scheduled for spring 2024).

Additionally, the analyst believes that BTC can explode to a staggering $524K in 2027. Planby is the next potential bull cycle in 2018. He thinks it will be even more explosive than it is in 2021 (which is mainly fueled by the Covid-19 pandemic and rising inflation across the country. The Globe).