BTC sitting on exchanges is hitting one year lows...
There is something happening right now that happened the last time we saw bitcoin go on a major run.
Major exchanges are now sitting on 1.36 million BTC, which is the lowest amount in more than 12 months.
That may not sound like that big of a deal but the last time their holdings were at these levels was right before bitcoin ran from $4k to $14k...
Check it out:
(Source: https://cointelegraph.com/news/the-last-time-this-happened-bitcoin-surged-from-3-150-to-14-000)
The low levels of BTC sitting on exchanges likely means those holding BTC are not interested in selling at/near the current levels.
Last time, we saw the totals rise as the price peaked out in July of last year.
But wait there's more...
Not only are the BTC exchange inventory levels indicating that a major run is on the way, we also have a major technical pattern in our favor as well.
Bitcoin just recently saw yet another Golden Cross:
(Source: ~~~ embed:1265508071578664972) twitter metadata:c2luZ2hzb3JvfHxodHRwczovL3R3aXR0ZXIuY29tL3Npbmdoc29yby9zdGF0dXMvMTI2NTUwODA3MTU3ODY2NDk3Mil8 ~~~
This would be the 7th Golden Cross since bitcoin was created.
Three of the first 6 times preceded massive moves up...
Which time will this one be?
I have a guess...
Stay informed my friends.
-Doc
May 29th is showing red for me... Maybe it's just because BTC is building up momentum with a small dip, time will tell...
Sure, it can be red for a few days, or even a few weeks, but the medium and longer term trend says that bigger numbers are likely on the way.
I don't see any indication yet that big climb is coming... I only see that it is starting to build momentum...
Domp Et! LOL!!!! So I can buy more cheap BTC before the mewn!!!!!
Seriously. I'd like to see that $7,600 CME Bitcoin Futures gap fill...
I know, that's why u skipped the power down hua? lol Waiting another week for that damp I know u!! lol smart!!
@jrcornel, Then it sounds like Age Of BTC Holding.
Have a wonderful time ahead and stay blessed.
After the halving, the selling pressure from miners has been reduced to half. It may also be one of the reasons for less BTC on exchanges.
I really don't care what happens as long as BTC goes up, though, I don't hold much 😀
Yep, I am sure that is a big part of it. Well, the last few times bitcoin went on massive runs the altcoins saw similar sized massive runs. So, even if you don't own much BTC you may want to be cheering for it to do well as it could help your altcoin holdings as well.
Absolutely:)
Moon. Lambos. Horay )