Bitcoin has experienced a strong surge since October 12, reaching the milestone of $0.093 million for the first time on Wednesday, with an increase of over 110% this year.

Despite Bitcoin's impressive performance and substantial gains so far, traders and investors have not shown a strong willingness to take profits, which is different from behaviors observed during previous historical highs.

This situation now leads many to believe that traders are confident that cryptos will appreciate further in the coming days or even months.

According to data from the crypto analytics company Glassnode, traders are not without profits from bitcoin; in fact, they have realized quite substantial profits. However, Glassnode reports that these profits "are still below historical peaks."

Therefore, the analytics company believes that bitcoin still has room for further appreciation before a potential depletion of demand.

As shown by Glassnode's data, since bitcoin surpassed its historical high of $73,679 on November 5, the "actual profit amount" has averaged around $1.56 billion daily. This sharply contrasts with the nearly $3 billion in profits realized daily when bitcoin reached its historical peak in March.

Industry experts have offered their interpretations of the current profit-taking levels, considering them as a sign that traders are not worried about bitcoin's future.

For example, Swan Bitcoin's CEO Cory Klippsten described bitcoin's recent performance as "impressive." His view is based on the fact that despite significant increases in "low weekend trading volumes," bitcoin remains stable.

Similarly, many well-known traders in the industry believe that bitcoin could further increase. Robert Kiyosaki, the author of "Rich Dad Poor Dad" and a supporter of bitcoin, announced that he would continue to buy bitcoin until its price exceeds 0.1 million dollars.

Chris from WealthSquad also described bitcoin's current price as "still cheap." He then predicted that once bitcoin's market cap exceeds gold, and the price reaches around 0.5 million dollars, investors will realize that this is a unique buying opportunity.

It is worth noting that bitcoin's current upward momentum occurs amidst increasing concerns about usa Treasury bonds. Recently, usa Treasury bonds increased by 850 billion dollars. Entrepreneur Anthony Pompliano captured the impact of this in a post on Wednesday, commenting, "Now it's a race between Treasury bonds and the price of bitcoin."

Editor/Lambor