Cryptocurrency analyst Axel Adler has provided his insights on the recent price movements of Bitcoin, focusing on long-term investor behavior and the prospect of a new rally.
Impact of Long-Term Investors on Bitcoin Price
Analyst Axel Adler points out that long-term investors (LTH) have been increasing their positions ahead of every major Bitcoin price spike. He noted that this behavior has preceded significant price surges.
Examples of Previous Bitcoin Rallies
The first example was observed at $28,000, where the increase in the LTH share compared to short-term investors (STH) coincided with the price rising to $60,000 after one to two months of accumulation. The second instance occurred during consolidation at $60,000, which also led to a surge up to $100,000.
Predictions for Bitcoin's Future Price
Adler observes a sustainable increase in the LTH/STH ratio today at $100,000 and believes that the current accumulation process could last 4-8 weeks. In a more cautious prediction, if the price reaches 1.6 times, the next rally target could be around $160,000.
Axel Adler's analysis underscores the dynamics of long-term investors and their impact on upcoming Bitcoin price movements. It is essential to stay informed about the developments, considering historical growth patterns.
