Bitcoin Rally Incoming, According to On-Chain Analyst Will Clemente – Here’s Why

Bitcoin Rally Incoming, According to On-Chain Analyst Will Clemente – Here’s Why


A popular on-chain analyst believes that a Bitcoin rally is in the cards as the leading cryptocurrency faces the possibility of a supply squeeze.

Will Clemente says that a Bitcoin supply shock could ignite a significant BTC rise.

 

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“Hang in there guys. This thing is going to pop soon.

Supply shock still in play this week.”

Clemente’s bullish stance on BTC comes 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.”

Source: Will Clemente/Twitter

The analyst adds that Bitcoin’s illiquid supply ratio has been in a steady uptrend since the COVID-19 pandemic induced sell-off in March 2020. According to Clemente, the ratio can be calculated by dividing BTC’s illiquid supply by its cumulative or increasing supply.

“Here’s

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