The Bitcoin price has continued to shrink in 2022 since Terra Luna initiated a significant crypto crash in Q1. The FTX and Alameda meltdown has stirred fresh selling pressure, which analysts expect to push through 2023. Moreover, confidence in ការផ្លាស់ប្តូរគ្រីបតូកណ្តាល has significantly slumped, which may push some to the insolvency route.
According to our latest crypto price oracles, Bitcoin is trading around $16,500, up from the recent lows of $15,900. The digital asset is trading 76 percent down from its ATH, $69k, set approximately a year ago.
Long-term Bitcoin critic Peter Schiff thinks Bitcoin price is yet to bottom per the current sentiments. Shiff highlighted a scenario where long-term Bitcoin holders sell their bags to sustain themselves—adding that sooner than later, only long-term holders with sustainable paychecks will survive the shakeout.
Source: https://coinpedia.org/bitcoin/how-are-bitcoin-long-term-holders-responding-to-the-btc-price-crash/