Cryptocurrency Market: "Nobody Intends to Sell Bitcoin Anymore!"
The Future of Bitcoin: Scarcity and Lending Could Drive Prices Skyward
Say goodbye to the selling pressure on Bitcoin, or so reckons Hunter Horsley, CEO of Bitwise. In a bold proclamation, Horsley believes that once the cryptocurrency breaches the $130,000 to $150,000 mark, few investors will be tempted to part ways with their precious coins.
In a notable post on platform X, Horsley explained that the current selling pressure stems mainly from early investors cashing out around the psychological $100,000 benchmark. But this phenomenon, he anticipates, will be short-lived. As Bitcoin breaks through new levels, Horsley predicts, this selling pressure will diminish.
Prominent figures such as Galaxy Digital's Mike Novogratz share similar optimism regarding these price levels for this year. Novogratz attributes the potential surge to robust institutional investments and surging digital asset demand.
Alternative Liquidity Solutions: Lending Over Selling
Horsley's intriguing perspective on how Bitcoin holders will manage future liquidity needs intrigues us. Instead of selling their coins, he posits that holders will explore alternative methods, such as leveraging loans from a growing number of lenders when the need arises.
A Tightening Supply: Fuel for the Bullish Fire
Lending against Bitcoin balances could further intensify the price as per Horsley's analysis. The Bitwise CEO estimates that the supply will become increasingly scarce, given the anticipated demand. Industry reports corroborate this assessment, with OTC desks signaling a tightening supply.
Even Bitcoin bull Michael Saylor of MicroStrategy echoes the same sentiment, stating that miners offer around 450 Bitcoin for sale daily, amounting to roughly $50 million at current prices. If these $50 million are snapped up, Saylor asserts, the price must rise. With continued demand and a tightening supply as anticipated by experts, the price targets suggested by Horsley and Novogratz could still be attainable this year.
However, it's highly improbable that investors will opt for loans instead of selling Bitcoin. DER AKTIONÄR advises against speculating on pump-and-dump schemes. Despite this, invested investors remain steadfast in their faith in Bitcoin.
Interests Disclosure:An important disclosure: The publisher Boerse Medien AG's board and majority shareholder, Mr. Bernd Förtsch, has entered into direct and indirect positions in the financial instruments mentioned in the publication or related derivatives, which could benefit from the course development resulting from the publication.
Enrichment Insights:- Overall Market Sentiment: The Bitcoin market's current sentiment is largely bullish, with 83% of indicators favoring a positive outlook. The Fear & Greed index is neutral, but a significant majority of indicators hint at a favorable outlook for Bitcoin.
- Price Predictions: Some predictions predict Bitcoin could soar to a price of $139,427 by June 21, 2025, and $138,421.77 in June 2025, according to various sources.
- Influential Figures' Views: While specific views from Hunter Horsley, Mike Novogratz, and Michael Saylor are not explicitly mentioned in the search results, these figures are known for their impactful insights within the cryptocurrency space. Mike Novogratz, for instance, has long been an advocate for cryptocurrencies, and Michael Saylor is renowned for his staunch support of Bitcoin, often promoting its potential as a store of value.
Technology could play a significant role in the future of investing in Bitcoin, as alternative liquidity solutions like lending against Bitcoin balances become more prevalent. This could potentially further increase the scarcity of Bitcoin, driving prices even higher, as suggested by Hunter Horsley and Michael Saylor.
The tightening supply of Bitcoin due to increased demand for lending against balances, combined with robust institutional investments and surging digital asset demand, could contribute to the bullish fire fueling Bitcoin's prices this year.
