One thing is for sure. If Bitcoin holders are afraid that BTC will crash again back to $6,000, $3,000 or even print a price chart that indicates it has more room to downtrend, you will definitely see more BTC in exchanges.
But that is not the case.
I believe, just like I am, Bitcoin has enough crashing: a long bear market with three major crashes. The last one was a support tester with that panic selling that briefly brought the price to $3,000-level. Plus of course, the halving. It does not compute if there is any future to cryptocurrencies, the price will crash to below mining profits again.
TLDR; It's bullish.
Anyway, I'm speculating we will see more btc in exchanges once the price reaches ATH at $20,000.
But that is not the case.
I believe, just like I am, Bitcoin has enough crashing: a long bear market with three major crashes. The last one was a support tester with that panic selling that briefly brought the price to $3,000-level. Plus of course, the halving. It does not compute if there is any future to cryptocurrencies, the price will crash to below mining profits again.
TLDR; It's bullish.
Anyway, I'm speculating we will see more btc in exchanges once the price reaches ATH at $20,000.
More likely if we see bitcoin price touches five digits again, more will FOMO and we all know that it could be one of the main drivers for speculators to get in again. We seen crashes this year already due to the pandemic so I doubt we will go on that levels again.
Let's see if this is a bullish indicator, or at least at indicator that worth to be taken seriously. Investors and Traders keeping their bitcoin in a wallet that they have total control and when bitcoin goes on a massive bull run, just sit back and watch their investments grow.