Bitcoin price prediction – Is $61,000 BTC’s next target on the charts?
Posted: Sat Jun 22, 2024 10:16 pm
Bitcoin price prediction – Is $61,000 BTC’s next target on the charts?
Read more here:
https://ambcrypto.com/bitcoin-price-pre ... he-charts/
According to Axel Adler, an on-chain analyst, Bitcoin [BTC] is yet to hit its highest level of demand. According to him, this may be the case because the demand from new investors has been low, compared to previous bull markets.
However, Alder, in his post on X, also noted that new investors would begin to buy BTC at a much later date. Evidence of this opinion can be seen in the Ratio of Old and New Bitcoin Supply.
As can be seen in the chart below, Bitcoin is not yet close to the areas of high demand. Therefore, the chances of a price hike in the mid to long-term might be higher.
Read more here:
https://ambcrypto.com/bitcoin-price-pre ... he-charts/
According to Axel Adler, an on-chain analyst, Bitcoin [BTC] is yet to hit its highest level of demand. According to him, this may be the case because the demand from new investors has been low, compared to previous bull markets.
However, Alder, in his post on X, also noted that new investors would begin to buy BTC at a much later date. Evidence of this opinion can be seen in the Ratio of Old and New Bitcoin Supply.
As can be seen in the chart below, Bitcoin is not yet close to the areas of high demand. Therefore, the chances of a price hike in the mid to long-term might be higher.