• Is the market getting any closer to Bitcoin reaching $100,000 by December?

  • Despite the emergence of more capable and efficient chains, Bitcoin has historically been one of the most speculated assets in the crypto-space. Surprisingly, there is only one reason for this: Bitcoin is more than just another coin.

    Its worth is comparable to that of gold. Furthermore, investors have never stopped believing in the king coin and are doing everything in their power to push it past $100,000.

    Is it really a possibility?

    So, in many ways, the end of October was significant. To begin with, BTC’s close this month set the tone for the remainder of the fourth quarter (Q4). Second, investor participation and bullishness will be the two most important driving factors over the next two months.

    However, in order to ensure that investors are playing their cards correctly, we must examine their movements in relation to the past. In order to do so, we will look at the most important segment of all investors: Long Term Holders.

    Bitcoin is approaching the Euphoria-Greed zone, according to the LTH-Net Unrealized Profit-Loss indicator.

    BTC has reached an all-time high every time it has reached that zone. Even the belief-denial zone between 0.5 and 0.75 has historically been a pivot point for the market. When LTHs remain in this zone and do not sell, we see a rally. So, if they continue to HODL this time, things could turn out well.

    Price volatility appears to be a possibility as well. Although there is no certainty about the direction, the movement of BTC investors can be observed. Especially now that coins older than a month have begun to circulate.

    When the market is strong, it is common to see this type of behavior. This is how, as of now, this cohort accounts for 6% of total daily volume.

    The RVT ratio, however, provides the most important support for this bullishness. It was in the lower bullish zone at the time of writing, indicating increased activity. The network’s transaction volume has also been quite high, matching the all-time high recently achieved by the Realized Cap.

    As a result, if everything goes as planned, we can expect Bitcoin to reach $100k by the end of next month. Indeed, the Stock-to-Flow model appears to be closing the gap between the current and estimated prices.

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