ETH - Bitcoin Price Predicted To Rise Due To 'Demand And Supply Dynamics' Says Analyst As King Crypto Rebounds 10% In Last 7 Days | Benzinga
Bitcoin (BTC) is poised for a price surge as demand begins to outstrip supply, according to a prominent crypto analyst.
What Happened: “When supply exceeds demand, the asset’s price tends to decline. Conversely, when demand outstrips supply, the price usually rises. These same principles apply to Bitcoin,” crypto analyst Ali Martinez wrote on X on Thursday.
The recent market dynamics, including a rise in the supply of BTC after it hit an all-time high of over $73,700 in March, led to a corrective phase that saw the price of Bitcoin drop below $57,000. This drop caused Bitcoin to fall below its “Short-Term Holder Realized Price,” sparking market fear as short-term holders are more likely to sell based on price volatility, the analyst said.
“The Short-Term Holder Realized Price, which currently stands at $60,500, served as an accumulation point despite investors' fears. Indeed, long-term holders felt comfortable adding more than 70,000 to their positions at these levels after realizing profits in March,” he added.
The Short-Term Holder Realized Price, which ...