A New Bitcoin Spring: Here Are the Factors Driving an Imminent Bull Run

There have been several forecasting models that have predicted that the price of bitcoin will reach $20,000 this year. Although several investors are skeptical and are hoping this won’t end up like the last bull run in 2017. The new upswing in the price of Bitcoin is influenced by a confluence of factors, making it different from similar trends. These factors include the following: HODL waves High hash rate Crypto influencers Read Also: How The Binance P2P Platform Works HODL Waves According to Philip Swift, Bitcoin web portals analyst, the ‘hodl waves' chart shows how a Bitcoin bull run could be imminent. He tweeted that 60% of all Bitcoin in circulation hasn't moved in twelve months. He also added that the last time this was seen was in 2016, only a few months before the start of the 2017 Bitcoin bull run. Glassnode, a blockchain data intelligence provider, asserted in one of its weekly publications that “this clear hodling behavior is macro bullish f