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Bitfinex: Bitcoin’s Growth Phase Will Return
The Bitfinex exchange believes that, with the SOPR index currently in the green zone, reflective of most sales operations becoming profitable again, the cryptocurrency market may enter a long-term growth phase in the coming weeks.
Holding above $30,000 in the coming days could be a strong signal of support for Bitcoin, as traders resume buying.
As the SOPR rises during a bull run due to a decrease in supply, a persistently high SOPR could indicate that we are in the early stages of a bullish trend.