Why Has The Bitcoin (BTC)
Price Still Not Surpassed $100,000?
Bitcoin has not yet reached $100,000 due to a combination of factors, as outlined by analyst Charles Edwards. Key reasons include substantial selling pressure from long-term holders, which has neutralized the positive impact of Bitcoin ETFs. The anticipated effects of Bitcoin halving, which reduces daily issuance, have not fully materialized in the market. Additionally, the market is experiencing seasonal slowdowns, and USD liquidity remains stagnant, both contributing to the price stagnation.
Edwards suggests that for Bitcoin to reach the $100,000 milestone, certain conditions need to change. Increased purchasing activity from Bitcoin ETFs could provide the necessary upward momentum. Additionally, a reduction in the selling activity from long-term holders would help alleviate some of the downward pressure on the price. Improved liquidity conditions in the US financial markets could also play a crucial role in supporting a higher Bitcoin price.
These insights underscore the complexity of Bitcoin’s price movements and the interplay of various market forces. Future developments in these areas could potentially drive Bitcoin toward the $100,000 mark, but it will depend on how these factors evolve over time.
