According to a popular cryptocurrency analyst, the “fundamental laws of supply and demand” are geared up to favor Bitcoin (BTC).
Trader Ali Martinez To tell His 62,300 followers on social media platform claimed to have been able to make a profit.
“The increase in the supply of BTC in the market exceeded the demand level, leading to a correction phase in which the price of Bitcoin fell below $57,000. This created a sense of fear in the market given the strong tendency to sell based on
The realized price for short-term holders, currently at $60,500, served as an accumulation point despite investor concerns. In fact, long-term holders felt comfortable adding over 70,000 BTC to their positions at these levels after realizing profits in March. ”
The realized price is the average price of Bitcoin in circulation, calculated based on the last moved price. The realized price for short-term holders is the average acquisition price of all Bitcoins acquired over the past 155 days.
martinez Predict This means that the demand for Bitcoin will start to exceed the supply.
“Looking at Bitcoin balances on exchanges confirms these demand and supply dynamics. Since early May, more than 30,000 BTC has been moved to personal wallets for long-term holding, with Bitcoin It shows the holder's confidence in the future value.
At the time of writing, BTC is trading at $65,411.
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Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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