{"id":106,"date":"2023-06-28T18:11:27","date_gmt":"2023-06-28T18:11:27","guid":{"rendered":"https:\/\/thecryptowave.net\/?p=106"},"modified":"2023-06-28T18:11:27","modified_gmt":"2023-06-28T18:11:27","slug":"optimistic-ripple-lawyer-identifies-positive-signal-for-bitcoin-sets-sights-on-50000-btc","status":"publish","type":"post","link":"https:\/\/thecryptowave.pro\/index.php\/2023\/06\/28\/optimistic-ripple-lawyer-identifies-positive-signal-for-bitcoin-sets-sights-on-50000-btc\/","title":{"rendered":"Optimistic Ripple Lawyer Identifies Positive Signal for Bitcoin, Sets Sights on $50,000 BTC"},"content":{"rendered":"\n<figure class=\"wp-block-image is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"blob:https:\/\/thecryptowave.net\/8c0ea5fb-63ac-49b2-b3ee-7e3aa637e15b\" alt=\"\" width=\"841\" height=\"560\"\/><\/figure>\n\n\n\n<p>XRP Holders&#8217; Attorney Identifies Positive Sign for Bitcoin&#8217;s Market Performance<\/p>\n\n\n\n<p>In a recent observation, the attorney representing XRP holders has highlighted a positive sign for Bitcoin, the largest cryptocurrency by market capitalization. According to the attorney, the fact that approximately 80% of Bitcoin has remained dormant suggests that individuals are not actively selling their holdings.<\/p>\n\n\n\n<p>The attorney, Deaton, has expressed interest in monitoring the behavior of this percentage as Bitcoin&#8217;s price reaches $50,000 and potentially even $75,000. He believes that the lack of movement in a significant portion of Bitcoin indicates a reluctance to sell among investors.<\/p>\n\n\n\n<p>This sentiment aligns with comments made by renowned investor Stanley Druckenmiller, who stated that during previous price plunges, 86% of Bitcoin holders at $17,000 did not sell their BTC when prices dropped to nearly $3,000.<\/p>\n\n\n\n<p>Additionally, on-chain analyst Will Clemente pointed out that despite Bitcoin&#8217;s recent price surge, there has been a continual increase in the amount of supply that remains inactive for at least a year, suggesting long-term holding strategies among investors.<\/p>\n\n\n\n<p>The emergence of spot Bitcoin ETF applications, led by asset management giant BlackRock, has contributed to the recent rally in BTC&#8217;s price, pushing it from $25,000 to over $31,000, marking new yearly highs.<\/p>\n\n\n\n<p>Glassnode, an on-chain analytics firm, analyzed the market and noted a stable equilibrium around $26,000 before the price rally. This indicates a shift in investor psychology away from a bearish outlook towards considering breakeven levels as an opportunity to build positions rather than seeking immediate liquidity.<\/p>\n\n\n\n<p>At the time of writing, Bitcoin was experiencing minor losses but remained above the $30,000 threshold, trading slightly higher at $30,226 within the last 24 hours.<\/p>\n\n\n\n<p>Deaton, maintaining his optimistic outlook on Bitcoin&#8217;s price, recently asked his Twitter followers whether they believed Bitcoin&#8217;s market valuation could someday reach half that of gold. If this were to happen, Deaton suggests that Bitcoin&#8217;s price could reach $300,000, nearly ten times its current value.<br><br><em>This article was originally posted on U.Today<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>XRP Holders&#8217; Attorney Identifies Positive Sign for Bitcoin&#8217;s Market Performance In a recent observation, the attorney representing XRP holders has highlighted a positive sign for Bitcoin, the largest cryptocurrency by<\/p>\n<p><a href=\"https:\/\/thecryptowave.pro\/index.php\/2023\/06\/28\/optimistic-ripple-lawyer-identifies-positive-signal-for-bitcoin-sets-sights-on-50000-btc\/\" class=\"btn btn-skin btn-radius\">Continue Reading<span class=\"screen-reader-text\">Optimistic Ripple Lawyer Identifies Positive Signal for Bitcoin, Sets Sights on $50,000 BTC<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/thecryptowave.pro\/index.php\/wp-json\/wp\/v2\/posts\/106"}],"collection":[{"href":"https:\/\/thecryptowave.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thecryptowave.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thecryptowave.pro\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thecryptowave.pro\/index.php\/wp-json\/wp\/v2\/comments?post=106"}],"version-history":[{"count":2,"href":"https:\/\/thecryptowave.pro\/index.php\/wp-json\/wp\/v2\/posts\/106\/revisions"}],"predecessor-version":[{"id":109,"href":"https:\/\/thecryptowave.pro\/index.php\/wp-json\/wp\/v2\/posts\/106\/revisions\/109"}],"wp:attachment":[{"href":"https:\/\/thecryptowave.pro\/index.php\/wp-json\/wp\/v2\/media?parent=106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thecryptowave.pro\/index.php\/wp-json\/wp\/v2\/categories?post=106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thecryptowave.pro\/index.php\/wp-json\/wp\/v2\/tags?post=106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}