3 Real Reasons Why Bitcoin Will Rally Towards $9,000 in the Coming Weeks

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After showing signs of weakness early this week, Bitcoin managed to mount a comeback on Wednesday, rallying 6% to $7,150 within the space of a few hours. It was a rally that liquidated over $10 million worth of short positions, with bulls retaking the ever-important $7,000 level with force. Fortunately, a confluence of fundamental and technical factors indicates that BTC is preparing to embark on yet another leg higher. There isn’t a consensus as to where that leg will end, but many are eyeing a Bitcoin price of $9,000-10,000, all within the next few weeks. On-Chain Metrics: Bitcoin Rally is Brewing According to an April 16th report from crypto and blockchain analytics startup Glassnode, Bitcoin’s hash rate has recovered 64% from the lowest day in March, which came a few days after the crash to $3,700 took place. Then, the hash rate was at 82 exahashes per second; now, the…

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