Evening
Institutions and Whales are continuing buying Bitcoin every month and the number of wallet holding 1,000 or more bitcoin is increasing steadily. Also the bitcoin inflows to exchanges has been lowest yesterday[34.67k BTC] since last 91 days indicating increasing investor confidence in bitcoin as a store of value. Recently MicroStrategy(US cloud and data analytics firm) and Meitu(Chinese App Maker) have decided to shill bitcoin.
Bitcoin liquid supply change has been negative for the most part of the last year. Its the longest period in history for bitcoin liquid supply change to remain negative indicating price support in long term.
As per Glassnode weekly newpaper:
“This has never happened before for such an extended period of time, and could lead to a massive supply squeeze soon,”
With big guys hodling more and more bitcoin than minted and continuous decreasing liquid supply, soon there will soon be not enough bitcoin for everyone. This gives me a serious fomo!
Many people say bitcoin around 50K is too expensive too buy, suggesting to wait for the correction. But those people said same thing when bitcoin was trading around 10K 3 months ago. For all we know, bitcoin could be hovering around 100K in just one month period. It is not a stretch; trust me!
Hodl...
See you on the moon!!!
Posted Using LeoFinance Beta
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