Bitcoin ratio of supply on exchanges don hit 6 months low
https://twitter.com/santimentfeed/status/1411971284448202755I don create this
thread for Bitcoin discussion, but I dey think some people can learn from this, while good posters among fit make good reply.
Na like this e be, Bitcoin exchange inflow for exchanges means Bitcoin users are moving their Bitcoin go exchanges, e get no two main reasons while Bitcoin users dey do this, it is because they want to sell their Bitcoin. If the Bitcoin is sold, the price plummet.
On the other hand, Bitcoin exchange outflow means that Bitcoin users dey send Bitcoin into wallet from exchanges, the main reason holders go do this is because they want to hold for that time period. I remembered many bull run occured like this, miners are holding while Bitcoin users are sending their Bitcoin to wallet from exchanges leading to bitcoin exchange outflow and later resulted to increase in Bitcoin price.
Waiting you people thing about this? Me dey think the bear market for now is over, but Bitcoin no dey go far if the price increase. $64000 no fit dey attainable until the next halving in my opinion, but this can result to bull run that can drive the price of bitcoin go above $40000, or even if the price decrease due to traders, e no fit decrease pass $30000 as the support level. Waiting you think go happen?
The thing you talk na the koko, right now i think hodlers dey carry dia bitcoin go keep for wallet, and the others way keep dia own foe exchange(some they convert to stable coin and others they sell) the true matter be say, transactions don reduced wella for exchanged as many they plan for future inside this crypto like this.
