Quote from: virasog on May 02, 2021, 09:54:38 AM

Quote from: zopim savo on April 28, 2021, 04:01:31 PM

The total BTC balance on exchanges continuously decreasing since 2020. This shows that investors are withdrawing and storing their BTC in hardware and cold wallets. They are accumulating BTC for long term. Less BTC on exchanges means less selling pressure.

I have been following this on-chain metric for the last few weeks / months and people prefer to keep their bitcoin out of exchanges. There is a lot of bitcoin outflow from the exchanges which means that people are not willing to sell their bitcoins. The buying pressure will increase at exchanges and therefore bitcoin price will continue to rise.

This is an incredibly bullish sign, after all it means that people are not willing to sell their coins anytime soon and prefer their coins to be in wallets they control, this is is good as exchanges were becoming too powerful and while this is only going to limit their power a little bit it is a step on the right direction.

What I wonder is what will happen if the price goes down? Will we see those coins making a comeback to the exchange or will people prefer to keep their coins no matter what? Because in the case it is the latter not only this will slow down any crash but it will help us recover from it a lot quicker.