The post Bitcoin Price Prediction: With 80% Supply Locked, Is $150K the Next Stop? appeared first on Coinpedia Fintech News
Bitcoin’s most loyal holders may be about to spark another major price jump, and crypto trader CrediBULL Crypto says the clues are all here. He says over 80% of all Bitcoin is now in the hands of “diamond hands,” people who won’t sell easily.
If history repeats, this strong holding could push BTC to new heights, maybe even $150,000.
Let’s see why he says so!
“Diamond Hands” Are Back
In a recent tweet post, CrediBULL pointed out that more than 80% of all Bitcoin is now held by long-term investors. This means there is less “extra” supply floating around to be dumped on the market. When this happens, any new buying demand can have a bigger impact on price.
The chart he shared shows how this has happened before. The first time was when Bitcoin was at $43K heavy holding helped push it up to $73K.
Meanwhile, the second time was at $58K again, the same thing happened, with Bitcoin jumping past $100K after long-term holders kept their coins tight.
However, this tight supply makes Bitcoin more sensitive to demand. Even a small rush of new buyers can squeeze the price much higher.
Bitcoin Treasury Companies Add Fuel
More public companies are now choosing to hold Bitcoin instead of cash as a treasury asset. This trend is locking up even more coins, shrinking the supply on exchanges.
Leading the way is Strategy (formerly MicroStrategy), which now holds over 597,325 BTC and continues to raise funds to buy even more.
Other companies like Marathon Digital Holdings, Metaplanet, GameStop, Genius Group, Blockchain Group, and Nakiki SE have also joined the growing list of Bitcoin treasury holders.
Is $150K Possible?
With so much Bitcoin locked away by patient holders and companies, the stage is set. CrediBULL says this is why the next price move could be bigger than the last two jumps.
He thinks Bitcoin could gain $50,000 or more, pushing it past the $150,000 mark if new demand shows up.
As of now, Bitcoin is trading around $108,312, reflecting a drop of 0.53% seen in the last 24 hours.
