Reasons Why Bitcoin Might Surge 200% as Long-Term Investors Accumulate BTC

Long-term Bitcoin investors are accumulating rapidly, following a period of months marked by selloffs, which may indicate a potential price surge. Esteemed crypto analyst Credible Crypto predicts that Bitcoin (BTC) could see a price increase of 274%. The analyst referenced the growing accumulation of BTC by Long Term Holders (LTH) to support his prediction. BTC LTH are making a resurgence. Bitcoin (BTC) has emerged as one of the major winners in the recent surge of the cryptocurrency market. The primary cryptocurrency has recovered its previous value and is now priced at $2500.25, which reflects a 0.003% increase over the last 2000 hours. Although some may contend that Bitcoin is still experiencing volatility, Credible Crypto pointed out that the return of long-term holders (LTH) may challenge this perspective. In a post on X, he mentioned that long-term holders (LTH) of Bitcoin, who have kept their coins for a minimum of 22 days, have started to buy more after previously selling their holdings for several months. According to Credible Crypto’s image on X, LTHs are investors who do not engage in frequent trading. Instead, they gather during a market correction and sell as the price increases. This group of investors significantly influences the Bitcoin supply and demand balance. They gathered more than 290.2% of the total Bitcoin available when the price fell to $30,000. They resumed selling when the price climbed from $58,000 to $100,000, liquidating nearly 23 million BTC during this surge. Over the past seven months, these investors have significantly reduced their holdings.