Home / Major Catalysts for Bitcoin Price! Analyst Predicts Bitcoin Bull Run To Resume Soon!

Major Catalysts for Bitcoin Price! Analyst Predicts Bitcoin Bull Run To Resume Soon!

coinpedia.org
4 min read
fairly easy
Bitcoin illiquid supply hit new ATH. Bitcoin price to become the greatest wealth creator by the end of 2021. Historical trends say Bitcoin price will take a parabolic trend by the year's end to reach new highs. Analysts listed 4 major catalysts that could skyrocket the Bitcoin price.
The ongoing economic crisis in China has threatened the crypto space. With the increase in FUDs BTC price dropped by 11% within 24 hours. Analysts and investors have considered this dip as a buying opportunity.

Well, Glassnode, a crypto metric platform revealed data that shown illiquid supply hit new ATH reaching 14.43 million BTC. This describes that based on the current Bitcoin circulating supply of close to 18.8 million BTC, the illiquid supply of BTC locked in cold wallets is 77%. And only 23% of BTC is available for trading. This supply shock could boom the Bitcoin value with an increase in demand.

I know it is forbidden to post anything bullish on #Bitcoin right now, but I'm gonna do it anyway.

🔵 Illiquid supply is at an all-time high

🟠Liquid supply is demonstrating maturation as coins from $30k-$40k grow grey beards

🔴Highly Liquid supply is at a multi-year low. pic.twitter.com/n2Uttg4oXC — _Checkmate 🔑⚡🎟🌱🌋checkonchain.com🌋 (@_Checkmatey_) September 22, 2021

Bitcoin's liquid supply has been demonstrating maturation as coins from $30k-$40k grow. In…
Elena Is An Expert In Technical Analysis, Risk Management In Cryptocurrency Market. She Has Year Experience In Writing - Accordingly She Is Avid Journalists With A Passion Towards Researching New Insights Coming Into Crypto Erena.
Read full article