Yuri Molchan
Bitcoin Advisor to President of El Salvador Names New Immediate Target for Bitcoin Price
Continue reading U.TODAY
Google News
Max Keizer, a vocal Bitcoin advocate and advisor to El Salvador President Nayib Bukele on Bitcoin adoption strategy, now believes that Bitcoin will soon reach a certain target after being “delayed” due to certain circumstances.
“$50,000 is now the immediate goal”
In a recent tweet, Bitcoiner and BTC maximalist Keizer commented on Grayscale's recent consecutive Bitcoin sales from its Bitcoin Trust (GBTC).
In the last two days, the major crypto hedge fund sold large amounts of 15,986 BTC; 13,179 BTC and 10,872 BTC, valued in total at $1.618 billion. Commenting on this, Keizer tweeted that GBTC equilibrium had been reached.
Keizer is confident that Bitcoin's expected rise to the $50,000 high was delayed after the Securities and Exchange Commission gave the 11 companies the green light to launch their spot Bitcoin ETFs for trading “because some “Wall Street players blocked buying BTC ETFs.” .”
Keizer tweeted about it in early January, specifically naming the CEO of banking giant Vanguard as the person who prevented the world's leading cryptocurrency from taking off by banning customers from buying Bitcoin ETFs.
“New era after Bitcoin halving”
Overall, Keizer believes that Bitcoin’s new “post-halving epoch,” which will last from 2024 to 2028, will be “BlackRock and Wall Street-driven.”
The previous Bitcoin era was “owned” by Michael Saylor and his company MicroStrategy, which began purchasing BTC with its cash balance in August 2020 with the goal of accumulating 1% of the circulating Bitcoin supply.
Active BTC addresses are increasing
Crypto analyst Ali Martinez has reported that there has been a significant increase in active Bitcoin wallets on the network; These are Bitcoin wallets that contain more than $1 million worth of BTC. He commented that this is an indicator of “growing participation and usage of $BTC” by whales.
Still, according to on-chain data agency Santiment, small Bitcoin traders are abandoning BTC as the total number of Bitcoin wallets holding around 1 BTC has declined. Data shows that more than 487,000 such wallets have been liquidated in the last four days, signifying a capitulation of this class of cryptocurrency whales and could lead to a rise in BTC price.
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. He believes that blockchain and cryptocurrencies have the potential to change the world in many aspects of the future. He has written for several crypto media outlets. His articles have been quoted by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keizer, etc.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.