Matrixport: Bitcoin price may still have room to rise before computing power reaches its peak

Odaily News Matrixport released a chart today saying that the security of the Bitcoin mining network is increasing. As computing power continues to rise, competition among miners is becoming more intense, which is expected to drive capital expenditures (CapEx) of $10 billion to $12 billion per year. This fierce competition not only improves the security of the network, but also further promotes the development of decentralization. From historical experience, the increase in mining capital expenditures is often closely related to the rise in Bitcoin prices.
Corporate buyers, represented by MicroStrategy, continue to buy and hold Bitcoin for a long time, further reducing the circulating supply in the market. The current structure shows that Bitcoin prices may still have room to rise before computing power reaches its peak - and this turning point has not yet arrived. Overall, the Bitcoin network continues to expand and market demand grows simultaneously. These factors together provide solid support for Bitcoin prices.