Bitcoin Supply Side Is Setting Up for a Moon Shot, but Its Price Still Lacks a Key Element To Take Off.
2 scenarios for the evolution of the Bitcoin price in the short term.
With the price of Bitcoin still in its lateral range between $37K and $46K since the beginning of March 2022, I had not bothered to give you an update on the short-term price of Bitcoin. Things seem to me to be about to change.
While we should always be cautious with the price of Bitcoin in the short term, I'd like to detail two scenarios that could be in store for us in the near future.
We'll start as usual with the supply side by looking at the BTC reserves of the exchange platforms. The supply of BTC on exchange platforms continues to fall and has just reached its lowest level since August 2017:
On the side of the available Bitcoin supply, everything is getting ready for a moon shot. This is confirmed by the attitude of Bitcoin miners, who continue to keep their faith in the king of digital currency.