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Kraken Exchange's Dan Held Believes Bitcoin Is On The Brink Of A Bull Run

Emily Mason

Summary: Kraken exchange's Dan Held outlined five reasons why he believes Bitcoin's bull run is just getting started in a tweet on Monday, August 24. He started his list stating that 97% of Bitcoin users' balances are in profit. The percentage of Bitcoin which hasn't moved in a year is at an all-time-high of 61% suggesting ...

Kraken exchange's Dan Held outlined five reasons why he believes Bitcoin's bull run is just getting started in a tweet on Monday, August 24.

He started his list stating that 97% of Bitcoin users' balances are in profit. The percentage of Bitcoin which hasn't moved in a year is at an all-time-high of 61% suggesting increased HODL behavior which will bottleneck supply, especially given the recent halving which could curb miner production. 

Turning to macro factors he added that central banks like the Federal Reserve are printing lots of money in an effort to buoy economies during the COVID-19 pandemic. Finally, global debt as a percentage of GDP is the highest it has been in recorded history.

By Emily Mason

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