Glassnode's analysis indicates that the market may be at a turning point, highlighting a significant money shift from long-term Bitcoin holders to new investors. Glassnode tracks the movement of assets held by long-term investors through the “HODL Wave”. The data shows a significant shift in BTC ownership.
While the sale of assets by long-term investors typically points to a bear market, Bitcoin analyst Phillip Swift offers a different perspective. Swift believes that the recent influx of money from new investors has created a favorable environment for price increases.
This estimate reflects a view that is actually quite opposite to current ideas. However, he draws attention to the potential of changing dynamics in the market to produce a positive result, and is based on the view that new investors can be important. However, it is not possible to understand whether these predictions will be valid or not. As a result, he argues that the recent downtrend may be a temporary setback and has the potential to reverse prices with increased demand from new investors.
No comments:
Post a Comment