Will BTC Price Reach $100,000? Insights from Industry Leaders
On-chain data indicates that the amount of BTC held by long-term holders has reached a short-term low and is beginning to accumulate again. Historical data suggests that during periods of BTC price decline or slow growth, the supply held by long-term holders tends to accumulate. When BTC prices rise rapidly, long-term holders start distributing their holdings to make profits. When a new round of accumulation begins, BTC prices will rise again until the supply held by long-term holders reaches a short-term bottom, indicating that BTC has also reached a short-term peak at the current price. The supply of long-term and short-term holders is defined based on the average purchase date of entities, with weights given by a logarithmic function centered on the age of 155 days and a transition width of 10 days.Future BTC Trends: Industry Experts Insights Geoffrey Kendrick, Head of FX and Digital Asset Research at Standard Chartered Bank: Geoffrey Kendrick, Head of FX and Digital Asset Research at Standard Chartered Bank, stated on Thursday, “As the U.S. election approaches, I expect Bitcoin to reach $100,000. If Trump wins, it will reach $150,000 by the end of the year. The Biden administration has shown pragmatism recently by approving an Ethereum spot
