Data That Will Send Bitcoin To 120 Thousand Excited: It Had Also Brought ATH Before!
The decrease in the rate of individuals investing in Bitcoin (BTC) may bring about an increase of over 75%, just like in January.
Data recently transferred by CryptoQuant writer Axel Adler revealed that there may be preparations for a 75% rise in Bitcoin.
According to data presented by the analyst, the monthly change in individual demand for Bitcoin has fallen to minus 17% in the last 30 days.
The analyst showed that demand fell by 31% in the 17 days before May 24, falling to minus 14.50%. However, he reminded that the individual investor group reacted quickly to the changes:
I also noticed that this group reacts quickly to any market changes.
It had previously brought an increase to ATH from 40 thousand
Adler reminded that this data increased Bitcoin from $40,000 to $74,000 after the previous drop of around 18% in January.
Based on this mathematics, the analyst predicted that the price could rise to a new peak of 120 thousand dollars, considering the current price.
According to CoinGecko data, Bitcoin, which has increased by 1% in the last 24 hours, is traded at $67,150 at the time of writing.