4 Factors That Will Drive Bitcoin (BTC) to $ 22,000

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Bitcoin (BTC) price has been on the rise in recent days, taking firm steps towards an all-time high. Bitcoin managed to surpass the $ 18,000 level during the day. Analysts share different scenarios about what the cryptocurrency will experience in the coming days.

According to the news of the Stock Exchange Agenda, Philip Swift, founder of Lookintobitcoin.com, stated that he thinks the leading crypto currency will rise to $ 22,000. According to Swift, there are 4 different scenarios related to this. According to the analyst, both network fundamentals and technical factors point to strengthening BTC’s upward momentum.

There are 4 Different Factors

The one-year HODL (BTC retention) rate, the decline in exchanges’ Bitcoin reserves, neutral funding rates and institutional acquisitions / savings show that the rally of the leading cryptocurrency will be long. Making a statement on the subject, Swift uses the following statements:

“Is the 1-year HODL percentage still quite high? Yeah. Are Bitcoin withdrawn from exchanges? Yeah. Are funding rates still neutral? Yeah. Do organizations still buy? Yeah. Good, see you when the price reaches $ 22,000 in a few weeks. ”

As it is known, the Bitcoin sector calls those who have BTC for a long time HODLer, this action is called HODL. The one-year HODL wave indicator, according to the analyst’s statements, also reveals the increase in the number of investors accumulating Bitcoin.

See Also
Analysts Warn: Bitcoin Price Rises But No Volume

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