Bitcoin at $200,000: A Brief On-Chain Analysis
Bitcoin has been attracting attention with projections of reaching the $200,000 mark. An on-chain analysis highlights crucial factors that support this target:
Digital Scarcity: With only 21 million units, 65% of Bitcoins are accumulated in inactive wallets, reducing the circulating supply.
Institutional Adoption: The increase in large-volume transactions indicates greater participation by institutional investors.
Value Indicators: MVRV below 1.5 suggests Bitcoin is undervalued with potential for upward movement.
Concentration of Holdings: Large addresses control 14% of the supply, with accumulation behavior.
Favorable Global Scenario: Growing global adoption and inflation concerns drive Bitcoin demand.
With solid fundamentals, Bitcoin is well positioned for new heights.
