Leading analyst at research company Glassnode James Chek told when to sell bitcoins to get maximum profit.
Unlike daredevils who predict the growth of the Bitcoin rate to seven-digit values, as does, for example, the expert Willy Woo, Chek took a pragmatic approach to assessing the potential top of the current bullish trend and stated that the BTC price will most likely rise to $120,000-150,000.
Bitcoin could very well break above that [$150,000] mark, but it is highly unlikely to hold on to that peak. There is a speculative frenzy zone above that, and I would venture to guess that if the price does break above that peak, it will cross it again during a downward move, — said James.
According to the Bitbo platform, the average price of bitcoin, at which coins were bought by people who kept them for a maximum of 155 days, is $104,001, and traders and investors who did not part with coins for 156 days or more, paid $24,627 for BTC. Accordingly, if the bitcoin rate increases to $150,000, the former will increase their capital by 44%, and the latter — by 509%.
Bitcoin price change at which coins were bought by short-term and long-term investors
With such a high profit at stake, it is obvious that many BTC holders will prefer to get rid of the digital assets in an effort to lock in profits. Accordingly, a massive coin dump will mark the end of the bullish trend that began in December 2022, when Bitcoin cost about $16,000.