Bitcoin to Hit Bulls Month End?
2022 has not yet proved to be a good year for the crypto industry, including the crypto behemoth, Bitcoin (BTC). Since the beginning of 2022, the BTC price has been diving down more and more with time throughout the year.
At the beginning of the year 2022, BTC started with an obvious low price of $47k, and to date, BTC has not yet surpassed the $50k mark. BTC is trading at $19,362.58 currently, with the graphs slightly moving upwards y 1.2%, considering the past 24 hours.
The overall graphs indicate that BTC has been plummeting continuously in 2022. Furthermore, this bear market that BTC is now trading in is at it is worst. However, certain research suggests that the season will soon turn bullish for BTC, mostly within October 2022.
BTC’s latest research shows that a major reason why BTC will have a quick bounce back is because of the increase in the number of BTCs being kept on hold. Au contraire, many long-term investors, and the ones who truly know BTC’s value, continue to hold them up.
Despite multiple factors provoking many to sell their BTC holdings, the average of the sellers has reduced. As BTC is trading below the extremely worse $20K price range, many are opting to put their BTC on hold.
An increase in BTCs getting on hold will indirectly raise the need and supply of BTC. This means that the price of BTC will strategically rise up further in time. Consequently, the exchange flow statistics have now zeroed down to the time period BTC will start emerging back. This is bound to happen by the end of October 2022. And so, for the ones who have not yet gotten their hand on BTC, it is similar to a final call now for yourselves to get in hold of the digital gold. It is mostly a now-or-never situation.