Although price forecasts BTC are focusing on what could happen in the 4th quarter of this year, some are already looking further. Let’s take a look at the prediction of the supply shock for 2022. Using the data, we will reach even more “bullish” conclusions.
One analyst who paints a bull picture for 2022 is Willy Woo, the creator of the Woobull data source and known for his research into the BTC market cycles. Over the weekend, Woo highlighted a growing shortage BTC as a likely fuel for continued price depression.
He noted that historically a reduction in supply in combination with a larger number of offers, which will remain in the hands of hodler without plans for sale, creates a strong bullish signal.
His metrics “Long Term Holder Supply Shock“It clearly shows that such a scenario is repeated several times in the history of BTC.
BTC Long Term Holder Supply Shock. Source: Willy Woo / Twitter
BTC is becoming increasingly rare
Long-term holders already control an almost record share of BTC’s offer. This has led to expectations that the fight for the remaining coins will be even more fierce than ever before. Growth could also help ETF approval already in November and it would affect the price for several months.
Meanwhile, the balance of BTC on the major exchanges monitored by CryptoQuant stabilized at almost 2.4 million BTC after a sharp decline in September.
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