en.bitcoinsistemi.com
Leading cryptocurrency Bitcoin has been on a downtrend since reaching a new $ATH in mid-August.
Post-$ATH profit-taking by long-term investors and mega-whales has added to the pressure, with long-term (LTH) addresses offloading 97,000 $BTC worth approximately $3 billion last Friday alone, according to Glassnode data.
This was the biggest single-day sell-off for this group so far this year.
As Bitcoin's decline deepens, $BTC Inc CEO David Bailey, who advises US President Donald Trump on cryptocurrency policy, hinted that Bitcoin could soon reach $150,000.
David Bailey, in his post from his X account, said that the reason why Bitcoin cannot rise is two giant whales.
At this point, Bailey stated that in order for Bitcoin to reach $150,000, two selling whales need to clear, that is, finish their sales.
“The reason Bitcoin hasn't reached $150,000 is because of two early whales selling their holdings recently.
If these two clear, Bitcoin will instantly surpass $150,000.
One has already finished (the sale), the other is halfway done.”
According to the data, one whale address sold $2.7 billion worth of $BTC on August 24, while another has sold $4 billion worth of $BTC to buy ETH since the end of August.
Not only David Bailey but many analysts also expect Bitcoin to rise above $150,000 by the end of the year.
At this point, Alex Thorn, head of research at Galaxy Digital, predicted that Bitcoin could reach between $150,000 and $180,000 by the end of 2025.
BitMEX co-founder Arthur Hayes and Fundstrat co-founder Tom Lee predict that Bitcoin could reach $250,000 by the end of 2025.
*This is not investment advice.