New BTC Price Model Suggests $39k Price Floor

Written By Guest User
Screenshot 2021-09-16 at 14-44-58 New Bitcoin price model suggests BTC won’t go below $39K again.png

Full article by William Suberg found here.

Key Points:

  • Bitcoin reserves on cryptocurrency exchanges continue to dwindle as retail and institutional purchases continue to mount.

  • Long term holders of BTC now hold more of BTC’s total supply than any other time since October 2020.

  • Illiquid supply data has been combined with the Bitcoin stock to flow price model to indicate a new minimum price of $39,000 USD as of this week.

  • Mike McGlone of Bloomberg Intelligence has stated that “past Bitcoin trading trends and the crypto’s declining supply vs. mainstream adoption suggest a significant advance in 2021, potentially to $100,000 we believe.

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