A crypto analyst has suggested that long-term Bitcoin (BTC) holders have nearly completed their selling phase, potentially setting the stage for a significant rally in the coming months.
Declining Selling Pressure
The host of InvestAnswers told his 560,000 YouTube subscribers that approximately 70% of BTC holders who have held their assets for 155 days or more have now finished their sales. This shift could pave the way for Bitcoin’s price appreciation in the near future.
The analyst pointed out that Michael Saylor’s MicroStrategy and spot Bitcoin exchange-traded funds (ETFs) collectively purchased $82 million worth of BTC, which could significantly impact Bitcoin’s valuation. He believes that these strategic acquisitions may contribute to BTC reaching a price of $175,000 per coin.
Future of Bitcoin
The analyst explained:
“If Saylor spends another $40 billion and ETFs contribute at least $40 billion, Bitcoin’s market cap could reach $3.44 trillion, pushing BTC to $175,000 per coin.”
He further elaborated:
“I believe that American ETFs will invest at least $40 billion, and Saylor will match that amount. If this happens, and selling pressure remains stable, then theoretically, BTC could hit $175,000.”
Investor Sentiment
The predictions made by the analyst have caught the attention of the crypto community. A decrease in long-term investor selling could foster a more optimistic market sentiment.
These developments in the Bitcoin market offer valuable insights into potential price movements. Investors are closely monitoring how large-scale investments influence Bitcoin’s long-term value.
Given the current market conditions and expert forecasts, BTC could experience substantial gains in the near term. However, comprehensive research is recommended before making investment decisions.
The future of Bitcoin will continue to be shaped by institutional investments and market dynamics, presenting both opportunities and risks for investors.
