Bitcoin has been on a roll, hitting some big milestones. For some people who’ve held their Bitcoin for years, $90,000 feels like the right time to take profits.
A crypto expert from CryptoQuant, Percival, says that not everyone is holding out for $100,000 or more. Many long-time investors, especially those who’ve held their coins for over 155 days, see $90,000 as a good spot to sell.
Selling Pressure Isn’t Hurting Bitcoin’s Price
Bitcoin reached $90,000 for the first time on Nov. 12 and set a new record of $93,215 the next day. Before this, the price stayed between $53,000 and $72,000 for months.
Even though some people are selling now, Bitcoin’s price hasn’t dropped much. That’s because Bitcoin ETFs are buying up what’s being sold. These ETFs have seen billions of dollars flow into them this month, which is helping keep the price steady.
Can Bitcoin Reach $100K?
A lot of Bitcoin fans are still optimistic about hitting $100,000 soon. Michael Saylor, CEO of MicroStrategy, said on Nov. 14 that he’s already “planning the $100,000 party” and expects Bitcoin to hit that number by the end of the year.
Ryan Lee, an expert at Bitget Research, agrees. He says November is usually a strong month for Bitcoin, and if prices keep climbing like they have in the past, we could see $100,000 before December.
What’s Next for Bitcoin?
Bitcoin has been getting a lot of attention lately, especially with over $4 billion flowing into U.S. Bitcoin ETFs since early November. Some investors are taking profits now, but many are holding on for the next big milestone.
Will Bitcoin reach $100,000 soon? Some think it’s only a matter of time.
