BTC Price Prediction: Bitcoin Surpasses $61,500 as 1M+ Wholecoiners Achieve Milestone
Bitcoin’s price has exceeded the $61,500 mark, coinciding with a significant milestone where over one million addresses now possess at least one whole Bitcoin. This surge highlights the increasing trust in Bitcoin’s value and its long-term investment appeal.
Bitcoin Holders Surpass 1 Million: A Milestone in Cryptocurrency Growth
The realm of cryptocurrency has achieved a significant milestone as the number of Bitcoin addresses holding at least one BTC has surpassed one million. According to IntoTheBlock, a leading blockchain analytics firm, there are currently 1,010,777 addresses.
This milestone signifies a growing trend where individuals and organizations are accumulating Bitcoin, aiming to become “wholecoiners” – those who own at least one complete Bitcoin. The rise of wholecoiners demonstrates a broader confidence in Bitcoin as a stable investment asset and a reliable store of value. It also reflects a significant shift towards widespread adoption of cryptocurrency.
The significance of reaching over one million wholecoiners is amplified by Bitcoin’s finite supply of only 21 million coins. Owning a full Bitcoin becomes increasingly valuable and represents a commitment to the cryptocurrency. This scarcity underpins Bitcoin’s fundamental value proposition amidst rising demand.
Bitcoin Price Prediction
As of June 27, Bitcoin (BTC/USD) is trading at $61,585 with a 1% price appreciation in the past 24 hours and a trading volume of $21.25 billion. Bitcoin maintains its top position with a market capitalization of approximately $1.21 trillion. It has a circulating supply of 19.72 million BTC and a maximum supply of 21 million BTC.
The 50-day Exponential Moving Average (50 EMA) acts as a significant resistance level around $62,700. The current price behavior suggests a potential continuation of the uptrend, with candles closing above the pivot point at $61,320.
An ascending triangle pattern is forming, with a double top resistance near $62,500. A breakout above this level could propel Bitcoin towards the next resistance levels at $63,440 and $64,510.
Key price levels to watch include the pivot point at $61,320, immediate resistance at $62,510, and further resistance at $63,440 and $64,510. On the downside, immediate support is at $59,670, with additional support levels at $58,630 and $57,540.
The Relative Strength Index (RSI) is currently at 35, indicating a neutral stance but leaning towards oversold conditions. The overall outlook for Bitcoin remains bullish as long as it stays above the pivot point of $61,320. A decisive break above the $62,500 resistance could trigger a move towards higher resistance levels. However, a fall below the immediate support at $59,670 might indicate a sharp selling trend, potentially driving the price down to $58,630 or $57,540.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. You could lose all of your capital.