The post Why Bitcoin Could Still Climb to $147,000 Before Major Selling Begins appeared first on Coinpedia Fintech News
The world’s largest cryptocurrency, Bitcoin, recently hit a new record above $123,000, only to pull back below $118,000 as profit-taking kicked in. Despite all, on-chain signals hint at more upside ahead, as a key metric used by analysts shows that short-term holders have not yet reached the usual profit levels that trigger heavy selling.
Does this mean Bitcoin still has room left for a bigger rally?
Bitcoin Bull Run Isn’t Over
According to data shared by CryptoQuant author Darkfost, the Short-Term Holder Market Value to Realized Value (STH MVRV) ratio remains well below its critical threshold. This indicator measures unrealized profits for short-term Bitcoin holders and often signals when profit-taking could start.
In the past cylce, when the STH MVRV reached about 1.35, meaning holders had roughly 35% unrealized profits, Bitcoin usually faced short-term corrections as investors start taking profits. This usually leads to short-term corrections in price.
Looking at the current cycle, Darkfost notes that STH unrealized gains have never crossed the 42% mark, meaning the market hasn’t reached an extreme greed zone yet.
Right now, the STH MVRV stands near 1.15, signaling that holders are sitting on about 15% gains, far from the levels that typically spark heavy selling.
- Also Read :
- Strategy Hits $128.5B Valuation with 601,550 BTC
- ,
Why This Matters for Bitcoin’s Price
What’s even more interesting is that the realized price for short-term holders just crossed $100,000 on July 11 for the first time ever. Today, it’s already above $102,000, setting a new benchmark in Bitcoin’s history.
This shift raises the threshold for profit-taking even further, creating more breathing room for the current rally.
How High Can Bitcoin Price Go?
Based on past trends, Bitcoin still has room to climb by 20% to 25% before hitting the profit-taking zone near an MVRV level of 1.35. This means the market could experience another strong upward move before large-scale selling begins.
Currently, Bitcoin is trading around $118,000. If it gains 20%, the price could reach about $141,600. Meanwhile, if the bitcoin see a 25% rise would push it close to $147,500.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
FAQs
As per Coinpedia’s BTC price prediction, the Bitcoin price could peak at $168k this year if the bullish sentiment sustains.
With increased adoption, the price of Bitcoin could reach a height of $901,383.47 in 2030.
As per our latest BTC price analysis, Bitcoin could reach a maximum price of $13,532,059.98
By 2050, a single BTC price could go as high as $377,949,106.84
0 Comments