Here’s Why Bitcoin Might Never Fall Below the $25,000 Mark

Vinod Dsouza
btc bitcoin
source: Unsplash

Bitcoin investors targeting the $100,000 price milestone is what’s preventing BTC from nosediving below the $25,000 mark, claims a pseudonymous analyst who goes by the name Root on Twitter.

In a series of tweets, Root explained to his 111,300 followers that Bitcoin is highly unlikely to slip below $25,000. He argued that there’s “no real reason” for large sell-offs and the market will eventually stabilize. He added that speculations of BTC heading for a dramatic crash should be taken with a pinch of salt.

However, he revealed that BTC’s recent price movements are indeed testing the patience of investors, but long-term holders are still seeing Bitcoin as a viable option. Simultaneously, the on-chain indicators remain bullish as investors believe that BTC/USD will go much higher in the future.

“Since we didn’t reach prices above 100K, which so many expected. Many still believe this will eventually happen and might therefore hold on to their coins,” said Root. He continued, “With the HODL Army growing, it’s allowing us to make new ATH’s (69k top) without barely any STH’s in the market.”

He argued that Bitcoin falling to $25,000 is highly unlikely as long-term holders are accumulating BTC rather than selling. The unwillingness to sell off their coins is what’s preventing BTC from a nosedive. “Older LTHs (long-term holders) mainly holding strong. No real reason to see a drop below the realized price.”

“Conclusion: Some exhaustion coming from the people that bought the run to first 64k peak, but many still holding,” Root tweeted.

Cold-feet Over Bitcoin

bitcoin btc crash
Source: Pixabay

While many analysts are bullish on Bitcoin, the others are wary. Former BitMex CEO Arthur Hayes painted a gloomy picture in his recent Medium blog that Bitcoin could crash to $30,000. In addition, the markets around the world are in turmoil due to various factors affecting their growth.

The ongoing war between Russia-Ukraine, FED’s upcoming interest rate hike, skyrocketing gas prices, and inflation in the U.S have added to the market’s never-ending burden. Read here to know in-depth why markets around the world are in a difficult situation this year.

At press time, Bitcoin was trading at $38,494 and is down -3.4% in the 24-hours day trade. The leading crypto is down -44.2% from its all-time high of $69,044 which it reached in November last year.