The Bitcoin sales pressure will be evaporated once it will cross the $ 130,000 mark, according to Bitwise Hunter CEO Horsley.
“I think that Bitcoin has pierced, for example, 130 to $ 150,000, nobody is going to sell their bitcoin,” said Bitwise Hunter Horsley CEO in a post.
The founder of Galaxy Digital, Mike Novogratz, recently said that the price range was possible this year, citing solid institutional flows and an increasing demand for digital assets.
The bitcoins that bought a “very long” sell
Bitcoin (BTC) currently oscillates laterally around its peaks of all time.
At the time of publication, Bitcoin is negotiated at $ 108,698, or $ 3,272 from less than $ 111,970, May 22 of $ 111,970, according to CoinmarketCap data.
Outstanding has said that the current sales pressure comes mainly from the first buyers who have acquired Bitcoin at much lower prices and now choose to make profits around the level of $ 100,000 psychologically important.
“Right now, at $ 100,000, it seems that people who hold a lot of bitcoin who were bought for a long time ago at very low prices,” said out of leley. However, Excludes said it would be short -lived. “Once Bitcoin broke new levels, it will break out,” he said.
Even before Bitcoin was more of $ 100,000 on May 8, ONCHAIN GLASSNODE’s analysis company warned a “notable increase” of older investors selling once this level has been reached.
Horsley says Bitcoins will find other ways to access liquidity
The long -term long -term long -term Bitcoin holder – those with more than 155 days – is currently up around 215%, with an average purchase price of $ 34,414, according to the crypto analytics Bitbo platform.
Although the beneficiary margin is now important, Outley has said that Bitcoin holders who need money in the future will find other ways to use their bitcoin without selling it.
The tightening of the Bitcoin supply is the conversation between industry
“And from there, when people need liquidity, they will borrow from a set of constantly increasing lenders,” he said.
“All of this will propel the price more … There will simply be not enough bitcoin.”
Meanwhile, Cointtelegraph recently reported that on -the -counter offices (over the counter), which facilitate major trades outside the exchange, show signs of tightening the offer.
In relation: The price of bitcoin is preparing for volatility while cash supply disappears
Michael Saylor of the strategy recently echoed a similar feeling. On June 10, Saylor noted that around 450 bitcoin are available for sale every day by bitcoin minors, amounting to around $ 50 million at its current price.
“If these $ 50 million is purchased, the price must increase,” said Saylor.
“At the current price level, it only takes $ 50 million to turn the entire transmission tree of the cryptographic economy in a single turn,” added Saylor.
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This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
