Bitcoin (BTC) Long-Term Holders Are Almost Done Selling, Setting BTC Up for a Series of Rallies: Analyst

In a new video update, the host of InvestAnswers tells his 560000 YouTube subscribers that Bitcoin could potentially increase more than 66% from its current value.

A popular crypto analyst is updating his followers on the Bitcoin (BTC) selling pressure, revealing that long-term holders are nearly done.

The host of InvestAnswers tells his 560,000 YouTube subscribers that as those who have held their BTC for 155 days or longer are about 70% done selling, Bitcoin could potentially increase more than 66% from its current value.

“The selling pressure is coming from people who bought Bitcoin 155 days ago and less. They’re the ones selling. Everybody else, 155 days and up, they’re done selling. They’re actually buying a little bit more, those that bought between 155 days to a year.

155 days and less, they’re the ones selling, and they’re about 70% done selling. So we’re almost there.”

The analyst says that if Michael Saylor’s MicroStrategy and the spot Bitcoin exchange-traded funds (ETF) purchased an additional $82 million worth of BTC combined the flagship digital asset could hit $175,000 per coin.

“The question I had is, What would it take, how much money would it take to get to $175,000? Well, if Saylor spends another $40 billion, and the ETFs spend another $40 billion, call it $82 billion, the increase in Bitcoin’s market cap will be, based on the multiplier, $1.34 trillion, which would take the total Bitcoin market cap to $3.44 trillion, which, divided by 19.7 million Bitcoin will be $175,000…

I still do believe the American ETFs will do at least $40 billion, and I think Saylor will do at least $40 billion. So that’s coming…

Just these two players alone, if they continue to do what they did last year, and the selling is the same level of selling we have now, which I don’t think they’ll repeat, it’ll be less because they’re 70% done, I think it’s theoretically possible get to $175,000.”

Bitcoin is trading for $105,054 at time of writing.