Bitcoin Rally Is Around The Corner, Analyst Says

There are all kinds of optimistic predictions about Bitcoin these days. Check out the latest one of them below.

The popular on-chain analyst believes that a Bitcoin rally is just around the corner.

As noted by the online publication the Daily Hodl, Will Clemente says that a Bitcoin supply shock could ignite a significant BTC rise.

“Hang in there guys. This thing is going to pop soon. Supply shock still in play this week.”

Clemente’s bullish views on BTC come as he sees on-chain signals pointing to the rise of Bitcoin adoption around the world.

“Extremely bullish on global Bitcoin adoption. Blue: Supply held by entities with .01-1 BTC. Green: Net user growth on the network. All-time highs in new users. Hockey stick up in accumulation from small entities.”

He also made sure to point out the following:

“Here’s a really interesting long-term chart. Following March 2020, record money supply expansion changed investor behavior in the Bitcoin market. This metric shows the trend in the number of illiquid coins relative to overall supply. More coins are being locked up than ever.”

More Bitcoin predictions are out

Various people from the crypto space are dropping all kinds of optimistic thoughts about the price of the king coin.

Check out a recent one below.

More important analysts in the crypto space are expecting to see some upward moves regarding BTC’s price these days.

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $31,637.

More than that, as we reported the other day, Gemini’s Tyler Winklevoss points out the fact that Bitcoin’s hashrate starts to rise, and he says that few people understand the meaning of this.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.