Bitcoin analyst gives 4 reasons why BTC price will hit $22,000 next

Bitcoin analyst gives 4 reasons why BTC price will hit $22,000 next


Philip Swift, a Bitcoin (BTC) analyst and the creator of Lookintobitcoin.com, laid out four reasons why BTC is headed to $22,000. Both fundamental and technical factors indicate the top cryptocurrency’s momentum is strengthening.

The one-year HODL percentage, the decline of Bitcoin exchange reserves, neutral funding rates, and institutional accumulation point toward a prolonged BTC rally. Swift wrote:

“1yr HODL % still really high? Yep. Bitcoin being rushed off exchanges? Yep. Funding still neutral? Yep. Institutions still buying? Yep. Cool, See you at $22K in a few weeks when price reaches the 350dma x 2 of the Golden Ratio Multiplier.”

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Since the start of the fourth quarter on Oct. 1, the price of Bitcoin rose from $10,773 to $16,730 on Binance. 

BTC/USD daily price chart since Oct. 1. Source: TradingView.com HODL percentage shows investor confidence

The Bitcoin space refers to long-time BTC holders as “HODLers.” The One-Year HODL Wave shows the growth in the number of investors holding

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