Bitcoin Price Forecast: Long-Term Holders Accumulating at Record Pace
Saturday, 13 July 2024, 16:42
Bitcoin Price Forecast
The recent rebound in Bitcoin price to $58,800 comes after finding strong support at $53,500, alleviating selling pressure.
Long-Term Holders Accumulating
Long-term holders are accumulating Bitcoin at the fastest rate since April 2023, indicating sustained demand in the market.
- Strong Demand: Accumulation by long-term holders suggests significant confidence in Bitcoin's future growth.
- Record Pace: The pace of accumulation by long-term holders is at its highest, pointing towards positive sentiment.
With the ongoing accumulation and reduced selling pressure, a potential rally towards $70,000 is on the horizon.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.