Wed. Jul 17th, 2024

• Crypto analyst believes that Bitcoin’s (BTC) price has yet to catch up with its “out-of-control” fundamentals.
• Short term and long term holder supply of BTC is on the rise, with 14.5 million in the latter category.
• BTC is currently trading at $26,436, down 2.6% in the past 24 hours.

Bitcoin Price Has Yet To Catch Up to Strong Fundamentals

Crypto analyst believes that Bitcoin’s (BTC) price has yet to catch up with its “out-of-control” fundamentals. The InvestAnswers host notes long-term holder supply is going up, with roughly 14.5 million Bitcoin sitting in that category now. Addresses with a balance greater than one Bitcoin are also above 1 million, showing signs of bullish activity as deep-pocketed investors accumulate the top digital asset. Currently, BTC is trading at $26,436 and down 2.6% in the past 24 hours.

Fundamental Metrics Rising

The InvestAnswers host explains that all fundamental metrics for Bitcoin are going up except for BTC’s supply on exchanges which is going down. Large amounts of Bitcoin outflowing from exchanges can indicate a bullish period as deep-pocketed investors accumulate the top digital asset. The InvestAnswers host notes long-term holder supply is going up, with roughly 14.5 million Bitcoin sitting in that category now since there are more than 1 million addresses holding a balance greater than one Bitcoin – indicating potential bullish activity..

Long Term Supply Going Up

The InvestAnswers host explains that long term holder supply of BTC is on the rise, with 14.5 million in this category now compared to 330,000 whole coiners who will never exceed this number due to wallets having multiple different owners per wallet address when taking into account five or more wallets per owner or user using cryptocurrency tracking tools like Blockchain Explorer and CryptoCompare to monitor their holdings accurately..

Price Has Yet To Catch Up

The crypto analyst thinks Bitcoin’s (BTC) price hasn’t yet caught up with its “out-of-control” fundamentals despite these strong indicators of growth such as decreased exchange supply and increased long term holder supply levels currently seen across blockchain networks worldwide..

Conclusion

Although Bitcoins’ current prices may appear bearish when looking at daily changes in value today, overall fundamentals for the largest cryptocurrency continue increasing exponentially – pointing towards future gains and uptrends as time goes on over longer periods of observation and analysis by industry experts and data analysts alike..

By admin