Bitcoin’s Resilience and Scarcity: Catalyst for Crypto Boom

A prominent cryptocurrency analyst recently emphasized a robust Bitcoin (BTC) metric amidst a challenging market landscape.

Citing data from blockchain analytics firm Glassnode, which indicates that 95% of current Bitcoin hasn’t moved in 30 days, the InvestAnswers host, with 447,000 YouTube subscribers, underlined that a buy-side catalyst could ignite a rally.

He noted that the limited supply could trigger a parabolic price increase if significant institutional investment enters the market.

The analyst also highlighted that, even when considering long-term hodlers and lost coins, approximately eight million Bitcoins remain stagnant, leaving only around 11 million in active circulation. This scarcity factor was described as astonishing within and beyond the five-year timeframe.

He dismissed concerns about scarcity negatively impacting Bitcoin, explaining that it would likely drive the price higher with minimal effort.

In essence, this cryptocurrency expert’s key insights revolve around Bitcoin’s remarkable stability, with 95% of the supply untouched in a month and its extraordinary scarcity, driven by a significant portion of the supply being held long-term or lost.

The potential for price surges if institutional players enter the market remains a compelling narrative in cryptocurrency.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.