empty
12.03.2024 04:31 PM
Bitcoin could rise to $150,000 and even higher in the coming months

Amidst the continuous rise of Bitcoin, data tracked by Kaiko from wallet addresses reveals a slowdown in the increase of Bitcoin millionaires. Kaiko notes that this deceleration is attributed to several factors, including investors taking profits amid the cryptocurrency price surge.

Growth rates for 2020–2021 exceeded current trends

While the current surge began with the introduction of ETF funds on Wall Street, the growth in the number of new Bitcoin millionaires seems sluggish compared to the upward trend seen in 2020–2021.

Despite BTC's impressive 70% growth this year, reaching $73,000 and setting new records, the pace of Bitcoin millionaire growth remains lower than in previous bullish market periods.

Kaiko's data indicates that fewer than 2,000 millionaire wallets are created daily, each containing one million dollars' worth of Bitcoin. This contrasts with the previous bullish period when over 4,000 millionaire wallets were created daily, with over 2,000 having a balance of 10 million dollars each.

The stagnation in Bitcoin millionaire growth may suggest that the current bullish trend is possibly still in its early stages, and new capital has not yet peaked. However, market analysts argue that ongoing investments in ETF funds and the anticipated supply reduction due to the upcoming halving of rewards for the 4th block could propel the price of Bitcoin to $150,000 and even higher in the coming months.

This image is no longer relevant

Reasons for the slowdown

Kaiko also points out several possible reasons for the slowdown in the growth of the number of Bitcoin millionaires, including delays in new capital inflows, large investors taking profits as Bitcoin reaches new highs, and a shift towards storing assets with custodians rather than in personal wallets.

Moreover, recent data shows an increasing gap between buying and selling side liquidity in the order book, with limit orders concentrating on the selling side. This may indicate that investors are inclined to lock in profits at the current record levels.

Factors driving Bitcoin growth

Meanwhile, a crypto analyst known by the pseudonym Pentoshi, who claimed the end of the 2021 bull market, asserts that investors should reconsider their perspective on Bitcoin.

He suggests that investors seeking peaks should consider a longer-term perspective. In his opinion, several factors have aligned to open up new growth opportunities for Bitcoin. He also points to the historical growth of Bitcoin ETFs:

"I think the correct way to view crypto, as opposed to always trying to call tops right now is to widen your time horizon.
The BTC exchange-traded fund (ETF) was the most bullish ETF in history. The suits love it, people wanted it and didn't know how to buy it. It will become easier to use, with a better user interface, and more people will be onboarded.
Central banks will print money, they always have and have shown they can't stop. So, no matter what, this should in theory drift up and to the right on any large time frame.
When Covid happened, I originally thought that those types of stimmies would never happen again, and maybe they won't.
But what did happen is a generational mindset shift where people are online more, they gamble more, and in the current world system, this may be the only way out.
So stop trying to call tops, zoom out, and think about where it's heading a decade from now. Higher."

Bullish sentiments continue: MicroStrategy buys cryptocurrency

There is also news that from February 26 to March 10, MicroStrategy acquired 12,000 BTC totaling $821.72 million at an average price of $68,477.

As of writing, MicroStrategy held 205,000 BTC totaling $9.9 billion, with an average acquisition cost of $33,706. At current market prices, the profit from these investments could reach $7.9 billion.

The funding for this purchase was secured through $782 million raised from the issuance of convertible bonds.

At the time of publication, MicroStrategy surpassed BlackRock in the number of Bitcoins on its balance sheet due to its recent acquisitions. BlackRock held 195,985.31 Bitcoins through its Bitcoin trust IBIT iShares, which was less than MicroStrategy's holdings.

The analysis of assets under management (AUM) for GBTC returned to a level around $28 billion, comparable to the level before the emergence of ETFs, due to the rise in Bitcoin prices.

There continues to be a significant outflow of funds from GBTC, which may indicate that investors may be waiting for regulation or a decline in Bitcoin prices before re-entering the market.

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

Recomendaciones para operar en el mercado de criptomonedas el 28 de marzo

El Bitcoin y Ethereum siguen enfrentando dificultades. Otro intento fallido de que el Bitcoin se mantuviera por encima del nivel de 88 000 llevó a su venta durante la sesión

Miroslaw Bawulski 07:52 2025-03-28 UTC+2

El Éter cayó. El Bitcoin salió mejor parado

A pesar de la implementación exitosa de la actualización de prueba Pectra en la nueva red de pruebas Hoodi —lo que representa el último paso antes de su implementación

Jakub Novak 07:52 2025-03-28 UTC+2

Análisis del par BTC/USD. El 27 de marzo. El Bitcoin no tiene potencial de crecimiento

La estructura de ondas del gráfico de 4 horas para el instrumento BTC/USD es completamente comprensible. Después de completar un tramo ascendente de la tendencia, compuesto por cinco ondas completas

Chin Zhao 08:25 2025-03-27 UTC+2

Recomendaciones para operar en el mercado de criptomonedas el 27 de marzo

El Bitcoin y Ethereum vuelven a enfrentar ciertas dificultades para subir. Pero esto es más bien una reacción a las nuevas declaraciones políticas de Trump, lo que llevó

Miroslaw Bawulski 07:28 2025-03-27 UTC+2

BCH/USD – situación actual y perspectivas

Los sentimientos de duda e incertidumbre de la semana pasada se mantienen hasta ahora. La atracción del nivel final del cruce mensual de Ichimoku (329,98) sigue manteniendo al mercado dentro

Evangelos Poulakis 07:10 2025-03-27 UTC+2

Recomendaciones para operar en el mercado de criptomonedas el 26 de marzo

El Bitcoin y Ethereum continúan mostrando un crecimiento activo, pero también enfrentan dificultades al superar niveles importantes de resistencia. Ayer, el Bitcoin, tras alcanzar los $88 400, retrocedió y actualmente

Miroslaw Bawulski 07:32 2025-03-26 UTC+2

El Bitcoin se estanca antes de un nuevo impulso por encima de los $90 000

Mientras estás pensando si comprar Bitcoin o no, el mayor gestor de activos del mundo, la empresa BlackRock, está aumentando activamente sus reservas de ETH para su fondo tokenizado BUIDL

Jakub Novak 07:32 2025-03-26 UTC+2

Recomendaciones para operar en el mercado de criptomonedas el 25 de marzo

El Bitcoin y Ethereum lograron actualizar niveles bastante importantes, pero una vez más no pudieron mantenerse por encima de ellos. El Bitcoin, tras alcanzar el nivel de $88 600, retrocedió

Miroslaw Bawulski 07:48 2025-03-25 UTC+2

Por qué la caída de Bitcoin aún no ha terminado

A pesar del reciente crecimiento del mercado de criptomonedas, por ahora las perspectivas alcistas más amplias y el regreso del Bitcoin al nivel de $100 000 siguen siendo poco realistas

Jakub Novak 07:48 2025-03-25 UTC+2

Recomendaciones de trading en el mercado de criptomonedas para el 24 de marzo

El Bitcoin y Ethereum han mostrado un crecimiento bastante sólido hoy después de un fin de semana algo apagado, lo que indica una creciente disposición de los inversores al riesgo

Miroslaw Bawulski 08:41 2025-03-24 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.