A crypto analyst at Modern Investor believes that a shortage of Bitcoin supply on the over-the-counter market could trigger an upward rally in the first cryptocurrency to $150,000.
The analyst argues that the reason why Bitcoin's price has remained relatively stable since January despite massive purchases by crypto whales and institutional investors is because these investors prefer to buy Bitcoin on the over-the-counter market.
He believes they do this to avoid buying on cryptocurrency exchanges, which would inevitably lead to an increase in price. This would make further purchases less profitable for them.
According to the analyst, the over-the-counter supply of bitcoins currently stands at 140,000 BTC. This amount could quickly decrease and even run out, so such well-known investors as suppliers ETF and Michael Saylor's Strategy, will trigger a buying spree.
The investor calculated that Strategy would need to make about three purchases to exhaust the supply, leaving other buyers with no choice but to turn to crypto exchanges.
Purchases on decentralized trading platforms and subsequent price increases will trigger FOMO and will lead to a rush demand, which will further increase the price up to $150,000.
