Outside Source
The current CryptoQuant Bitcoin exchange reserve metric is roughly 2.5 million coins — the lowest level recorded during this market cycle.
News
The price of Bitcoin (BTC) may reach $180,000 by the end of 2025 — according to Georgii Verbitskii — the founder of the TYMIO decentralized finance platform.
In a statement to Cointelegraph, Verbitskii forecasted a Bitcoin price between $100K and $120K by the end of 2024 or early 2025 — before President-elect Trump assumes office on January 20, 2025. The TYMIO founder continued that BTC may reach $180,000 by the end of 2025 as more traders are drawn into the fray. Verbitskii told Cointelegraph:
“Bitcoin’s price can double during this bull run and has the potential to reach the $180,000 threshold. This takes time — we may witness this level closer to the end of 2025. The peak of this cycle could reach much greater levels as we progress into the next two years.”
However, Verbitskii cautioned traders to properly manage risk by diversifying their positions, executing trades via limit orders, and using options to avoid the devastating effects of rapid market downturns.
Bitcoin year-to-date price. Source: TradingView
Related: Bitcoin ‘wild’ odds see 85% chance of BTC price above $100K by New Year
Is a Bitcoin supply shock coming?
The TYMIO founder also predicted that the decreased block subsidy from the April 2024 halving, future halving events, and lost keys would trigger a supply shock and keep BTC volatility high:
“Bitcoin becomes scarcer because fewer coins are mined each year, plus many are lost over time due to forgotten passwords and misplaced wallets. This sets up the potential for a supply crisis, in which demand significantly outstrips actual availability. In these circumstances the price could rapidly accelerate — pushing volatility to new, higher levels.”
In June 2024, Bitcoin exchange reserves — a metric tracking the total number of Bitcoin available on exchanges — dropped to a three-year low. Bitcoin exchange reserves continued to decline and reached another low in August 2024.
Bitcoin exchange reserve metric. Source: CryptoQuant
Increased demand due to the recent US Presidential election and macroeconomic factors further strained the already low Bitcoin supply in November 2024.
Onramp Bitcoin co-founder Jesse Myers recently said that these factors weren’t the only things driving Bitcoin’s price toward the $100K level and pointed to the decreased block subsidy as a catalyst for a Bitcoin supply shock.
Magazine: Bitcoin’s $100K push wakes taxman, Vitalik visits real Moo Deng: Asia Express
This article first appeared at Cointelegraph.com News
