It has been revealed the fact that crypto saw a huge explosive and optimistic prediction recently. Check out the latest reports below.

Crypto sees huge predictions for the future

Bloomberg Intelligence analyst, Jamie Coutts, believes that cryptocurrency and blockchain technology are in the early stages of a “structural uptrend”.

Coutts has stated on the social media platform X that central bank liquidity, global M2, Bitcoin’s price, cryptocurrency prices, and cryptocurrency user count are all interconnected.

Global M2 is a monetary measurement that calculates the cash, checking accounts, and other deposit types that can be easily converted to cash.

Says the Bloomberg analyst,

“The liquidity cycle bottomed in Q4 2022 as did users of smart contract blockchains. However, the liquidity cycle only impacts the rate of change of adoption. Consistently, blockchain adoption increases YoY (year over year), irrespective of asset prices.

Blockchain technology is in a structural uptrend that will last for many years, and we are at the start of the next cyclical upswing.”

According to Coutts, some countries have already started considering Bitcoin as a reserve asset.

He states that certain energy-rich countries have invested hundreds of millions of dollars into facilities, with projected investments of $1 billion to $2 billion and more than 2,000 megawatts coming online in a few years.

These countries have publicly announced that Bitcoin mining is a strategic energy initiative. Therefore, it is likely that they are already holding BTC on their balance sheet.

It seems like the first of the sovereigns have already started investing in Bitcoin.

The latest news in the crypto space

During November, the vast majority of BTC transactions involved ordinals, particularly those that included text within satoshis, which are the smallest denomination of Bitcoin.

Dune Analytics further reveals that to date, there have been 41,666,862 ordinal inscriptions generating fees of 2,809.5313 in BTC, which is worth $102,901 million at the time of writing.

The token associated with BTC’s ordinal protocol, Ordinals (ORDI), is showing bullish momentum, according to the crypto analyst, The Flow Horse.

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