**If You're Concerned About BTC Price Action, Read This**
Since hitting a peak of $74,000 in March, Bitcoin has been on a downtrend, and this has impacted altcoins, many of which are down 50%-80% from their highs in Q1.
Historically, after each halving, Bitcoin tends to move sideways for an extended period. For example, in 2016, it went sideways for 161 days, and in 2020, for 175 days. Right now, Bitcoin has been moving sideways for 119 days.
However, there are some positive signs that many may be overlooking:
For Bitcoin to rise, supply needs to decrease while demand increases. Here are some key supply metrics:
- Since July, ETFs and accumulation addresses have purchased 450,000 BTC.
- Bitcoin supply on exchanges is at its lowest level in six years.
- Long-term holders are accumulating the most BTC in 15 months.
- 45% of Bitcoin supply hasn't moved in six months.
These indicators suggest an upcoming supply crunch. Additionally:
- MicroStrategy is buying $2 billion worth of BTC.
- Marathon is buying $300 million worth.
- BlackRock and other financial institutions are continuously accumulating.
On the demand side, we can expect demand to increase by Q4 due to several major events:
- The Federal Reserve may start cutting interest rates.
- Global quantitative easing (QE) could begin to avoid a recession.
- Russia is expected to start using crypto for international trade.
- New regulations may allow over $3 trillion in corporate cash to be invested in Bitcoin.
All these factors could boost liquidity, and combined with the supply crunch, we might see a significant price increase.#Write2Earn! #BTCâ #writetowin #BTCâ #Write2Earn!
