Cryptocurrency
How BTC Held On Exchanges Matches Bitcoin’s Deadliest Drop Yet
NewsBTC reports, “Several signs indicate that Bitcoin is potentially on the brink of a new bull market, and much higher prices are ahead. However, one seemingly bullish sign that investors are preparing for mark up, is actually at the same level as just prior to the collapse to the cryptocurrency’s bottom. “Are looks this deceiving, and Bitcoin […]
NewsBTC reports, “Several signs indicate that Bitcoin is potentially on the brink of a new bull market, and much higher prices are ahead. However, one seemingly bullish sign that investors are preparing for mark up, is actually at the same level as just prior to the collapse to the cryptocurrency’s bottom.
“Are looks this deceiving, and Bitcoin is about to take a similar plunge once again? Or is this potentially bullish signal the first real indication that the bull run is here?
“Although Bitcoin is valuable to different people for many different reasons, chiefly, the asset’s valuation is derived from its digital scarcity.
“Valuation models like the stock-to-flow method look closely at the total BTC supply in relation to where it is in the asset’s market cycle and each block reward halving. This theory suggests that as the supply is reduced, demand rises, and so do prices.
“In advance of this expectation, crypto investors, particularly whales, have been moving their BTC off of exchanges and into privately owned wallets either through cold storage or on the web…”