The post Bitcoin Price Analysis: Why Long-Term Investors Aren’t Selling appeared first on Coinpedia Fintech News
Bitcoin’s price has recently dropped to a monthly low of $56,567.10, falling over 6.2% in the past 24 hours. If this trend continues, further declines might be possible. Reports indicate that short-term Bitcoin investors are rapidly leaving the market. Does this mean investors have lost all hope? Not necessarily. A recent chart shared on X by cryptocurrency analyst Binhdangg offers a different perspective.
Let’s take a closer look!
Bitcoin Long-Term Holders’ Market Behavior
The chart from Binhdangg shows that Bitcoin’s long-term holders are not selling their assets. This suggests that they believe holding Bitcoin is more advantageous than selling it right now. Could Bitcoin be in a holding phase? The chart supports this idea, indicating that long-term traders are confident and expecting a bull run soon. This outlook contrasts with the general market sentiment.
Bitcoin Current Pattern Analysis
The expert compares the current Bitcoin market to the period from mid-2019 to mid-2020. If this phase is similar to that period of stability, we might be on the verge of a significant price movement. Historical trends suggest that stability often precedes a price surge.
What’s Next for Bitcoin?
The expert predicts major price movement for Bitcoin in the fourth quarter of this year and the first quarter of the next. They also point out that major market shifts often happen unexpectedly.
If the expert’s predictions are accurate, long-term traders could benefit greatly from Bitcoin’s market. Current trends and past patterns suggest that holding onto Bitcoin might lead to significant gains in the near future.
Also Read: Bitcoin Selloff: Why Major Institutions Are Selling Bitcoin?
Are you a long-term Bitcoin holder? Share your strategy and expectations.
Source: https://coinpedia.org/news/bitcoin-price-analysis-why-long-term-investors-arent-selling-despite-drop/