Post
Topic
Board Bitcoin Discussion
Re: Over 100,000 Bitcoin (BTC) Moving To Self-Custody Storages: A Positive Trend For
by
NeuroticFish
on 12/02/2023, 07:50:39 UTC
I see it as a good news for the price, but not much more.
Things like this can actually be bad for the market and the price because when people withdraw their money from exchanges they are withdrawing/exiting from the market which makes the order books a lot thinner which in turn makes market manipulation easier. Hence more volatility, big crashes or big jumps become easier.

Yes, it can be bad for the short term market (by allowing an increase in volatility), but it can be also seen as making Bitcoin (or at least the bitcoins in circulation) more scarce. This should make the price go up.