Bitcoin currently has the lowest short-term selling pressure in its history
Greetings again my dear friends I hope you are all well, when the price of BTC approached the 70 thousand dollars we all thought at that time that it would reach and break the barrier of 100 thousand dollars, however, it failed to overcome the resistance of 70 thousand USD at that time, However, it failed to overcome the resistance of 70 thousand USD at that time, but rather originated a selling pressure which deflated the price of btc, from that moment until now there are many events that have developed and that in one way or another have affected the price of Bitcoin, all this has occurred in a period of a little more than a year.
Every negative aspect related to the cryptocurrency market led to the virtual collapse of the market, reaching unsuspected prices a few months ago, however, the period of high selling pressure is behind us and now the opposite is happening, i.e., the short-term selling pressure is the lowest in its history, This makes investors today are long term, and it is not for less after a historical price close to 70 thousand dollars, and knowing the historical behavior of Bitcoin, where these investors are waiting for the closing or beginning of the cycle of the bullish period.
That is why almost 80% of investors project their investment in the long term, at least 2023 has begun with a very good start for BTC prices, balancing and giving a respite to Bitcoin miners who were already at the limit between loss and profit, so that this respite has been transmitted to the entire market, for example, January of this year represented a historical fact of at least 10 years standing giving signs of recovery of about 40% of the price of btc in relation to the closing of the year 2022, when prices are bullish selling pressure is high and is at the surface so very few bet to keep their investment in the long term, unless they have been trapped in the market and decide to wait for a good opportunity to sell.
One aspect of great value I see in relation to these long term investors is that it may be an indicator of a bull market to come, perhaps Bitcoin holders are mature enough to believe in the stability of the market and it is all a matter of time? These savers are showing that they are not willing to get out of their investment easily and contribute to the accumulation of capital that projects a market implosion that can self raise these prices on its own merits, and that if another external variable helps it will be much better, there are really many aspects that from this year will have to be taken into account to be removing the selling pressure of most investors.
The truth is that at present the vast majority of traders are betting to continue waiting in relation to current prices, it would be interesting to wait when the price of BTC continues to climb in price and see if the relationship of about 80% of long-term investors is maintained or on the contrary the balance begins to balance, this we will see in the coming months where the Bitcoin market will rewrite its new history in all aspects and surely the rest of cryptocurrencies will do it.
Until another opportunity my dear friends.