Can BTC still reach $100,000?

The market has had some corrections in the past few days, so as expected, I received some messages from friends asking me: Will the market fall next?

Should I sell the coins in my hand now? How much will the price fall this time? Do you think BTC can still reach $100,000? ......

Every time the market has a correction, I will receive similar messages, and I am actually a little numb. I still say: I don’t know, because the short-term trend of the market is unpredictable.

If you encounter any market fluctuations, you just want to get a definite conclusion directly from others. In the long run, at least in my cognitive framework, people who have such ideas may be far from making real long-term money.

So, why did the market pull back in the past few days? Let’s talk about it after the fact:

On June 7, the non-farm employment data released by the United States was stronger than expected (non-farm employment increased by 272,000 in May, far higher than the expected 185,000). Because of the strong job market, the Federal Reserve’s hope of cutting interest rates in September continues to weaken. Since expectations have changed, the market must react.

On June 7, the latest data released by the State Administration of Foreign Exchange of China showed that my country's gold reserves were 72.8 million ounces at the end of May, the same as at the end of April, ending the previous 18 consecutive months of growth. This news caused gold to plummet 3.3% and silver to plummet 6.6% on the same day. It is estimated that this incident has also affected the decline of the crypto market to a certain extent.

But many people still have only one question in their minds when they see this: Can BTC still reach $100,000?

In the past 30 days, a total of 96,775.72 bitcoins have flowed out of the exchange. The sharp decline in the balance of bitcoins in the exchange indicates that large investors are moving bitcoins out of the exchange to hoard bitcoins when they expect prices to rise.

At present, there are only 2.5 million bitcoins left in the exchange, which has hit a new low since March 2018.

BTC whales' holdings

In May, whales increased their holdings by 164,000 BTC, the highest monthly increase since January 2018.

Again, the short-term trend is unpredictable, but we are always optimistic about the long-term trend of BTC. Hold on to the cake in your hand and wait for the market to explode!！！