Bitcoin (BTC) balance on exchanges drops to two-year lows

Bitcoin (BTC) balance on exchanges drops to two-year lows
фото показано с : invezz.com

2020-10-23 14:08

Bitcoin (BTC) supply held by major exchanges has fallen to lows that were not seen for the past two years. The last time that BTC balance on major trading platforms was this low was back in 2018, according to data collected on October 20th.

People are realizing the value of Bitcoin

The crypto industry has grown rapidly over 2020, and for a variety of reasons. The existing crypto community has been buying it with the intention of HODLing, ever since BTC went through its third halving, expecting the prices to skyrocket.

Then, there was the COVID-19 pandemic, which caused the global economic meltdown due to pure fear of what it can do to various industries. In the end, the world started to realize something that the crypto industry has known for years — the BTC is the only asset that offers a sound monetary policy.

At least, that is what the co-founder of Nexo, Antoni Trenchev, recently noted. He said that BTC is the best-performing asset of the decade, and that the world has started to realize this.

He further added that the community is resorting to self-custody solutions, which include platforms such as Nexo itself. Such platforms allow for tax-efficient borrowing against the assets that users already own.

There is no need to sell in order to earn, and all the popularity has sparked more crypto discussions than ever.

BitMEX and Bitfinex might be losing the users’ trust

The co-founder of Celsius, Alex Mashinsky, expects that this state of things will continue, unless the exchanges change the terms of the deals they are offering in order to attract the users back to their platforms.

Not all exchanges are impacted equally, of course. Platforms like Binance and Coinbase, which offer good terms for their users, have kept their funds. Meanwhile, the likes of Bitfinex and BitMEX have seen severe reductions in the assets they hold.

The rise of the DeFi sector undoubtedly contributed as well, and so did the institutional investors’ growing interest. They used companies like Grayscale and Microstrategy to accumulate vast amounts of BTC throughout the year. In any event, some of the exchanges seem to be losing their users’ trust, although not all, as mentioned.

The post Bitcoin (BTC) balance on exchanges drops to two-year lows appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 69761.69 (+0.85%)
Объем 24H $45.646b
Изменеия 24h: 2.93 %, 7d: -3.96 %
Cегодня L: $69039.59 - H: $69761.69
Капитализация $1379.762b Rank 1
Цена в час новости $ 13002.06 (436.54%)

btc lows balance major exchanges bitcoin low

Источник: invezz.com

btc lows → Результатов: 126


Фото:

Bitcoin Price Analysis: Bullish Setups Could Break Current Market Structure

The cryptomarket remains coiled as we lead into the weekend with no new highs and no new lows being established for bitcoin. However, it is nicely consolidating on lower time frames and hints toward the possibility of another leg up:Figure 1: BTC-USD, Hourly Candles, Consolidating PennantThe pattern shown in Figure 1 outlines a potential continuation pattern called a “bullish pennant.

2019-2-23 02:23


Фото:

Bitcoin Price Analysis: After Sudden Upswing, Bitcoin Price Drifts Downward

Last week, we saw a violent move to the upside as bitcoin rallied 11% over the course of one day. Since peaking in the upper $3,600s, bitcoin has seen close to zero bullish follow-through, and the price has begun to drift downward over the course of the last week:Figure 1: BTC-USD, Hourly Candles, Downward DriftDownward-drifting markets like this can often be a sign that distribution is taking place.

2019-2-15 00:21


Bitcoin Price Analysis: Investors Grow Weary as the Battle to Hold at $3,421 Continues — Can the Bulls Prevent Fresh 2019 BTC Price Lows?

Support for BTC moving forward: $3,421, $3,400, $3,350, $3,331, $3,284, $3,228, $3,000. Resistance for BTC moving forward: $3,467, $3,508,… The post Bitcoin Price Analysis: Investors Grow Weary as the Battle to Hold at $3,421 Continues — Can the Bulls Prevent Fresh 2019 BTC Price Lows? appeared first on Invest In Blockchain.

2019-2-7 10:35


Фото:

Bitcoin Price Analysis: Major Support Broken on Expanding Volume and Spread

After weeks of consolidation, bitcoin finally broke through support. The market now finds itself cruising toward prior lows. On expanding volume and spread, the bitcoin market appears ripe for a continuation of the downtrend:Figure 1: BTC-USD, Daily Candles, Broken SupportAlthough the current daily candle has yet to close, unless there is a strong influx of demand hitting the market, it stands to reason that bitcoin will be closing a new daily low for the first time since mid-December.

2019-1-29 02:01


Фото:

Bitcoin Price Analysis: Strong Move Likely Following Tightly Coiled Market

Days and days of sideways consolidation and tightening volume has been the name of the game for the bitcoin market. A narrow range of $200 has caused a weeks worth of activity to coil and consolidate in preparation for bitcoin’s next move:Figure 1: BTC-USD, Daily Candles, Narrow RangeThe figure above shows just how narrow the range has been over the last week as the market has continued to grind out support and fail to break above overhanging resistance.

2019-1-26 03:13


Фото:

Bitcoin Price Analysis: Range-Bound Market Coiled for Next Move

For the better part of a month and a half, bitcoin has been fairly range-bound and unable to establish new lows or new highs. There are some bullish and bearish setups on the horizon for bitcoin, so let’s check out both sides of the argument because currently the market is sitting in the middle of Indecisionville — the most immediate sign of which is this glaringly obvious head-and-shoulders bottom reversal pattern:Figure 1: BTC-USD, Daily Candles, Head-and-Shoulders BottomThis current pattern is nothing more than a setup at the moment, but it represents one potential outcome of this sustained consolidation.

2019-1-4 02:22


Major Crypto Exchange Huobi To Cut Staff, Will Other Startups Follow Suit?

For much of 2018, crypto startups seemed invincible. As Bitcoin (BTC) collapsed, falling to new multi-month lows each and every month, this industry’s participants barely flinched. Yet, as 2018 has come to a head, a number of industry heavyweights have ostensibly fallen victim to financial shortcomings, dropping the guise of fortitude in a hot second, so to.

2018-12-28 14:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Около 260 млн игроков покинули игру Hamster Kombat

Популярная «тапалка» Hamster Kombat больше не популярна. Игроки массово покидают проект. В начале августа ежемесячное количество игроков Hamster Kombat оставляло более 300 млн человек. К ноябрю этот показатель обвалился до 40,9 млн.

Bitcoin Price Forecast: What To Expect In The Final 24 Hours Before US Election

As the US presidential election approaches, the Bitcoin price has found a stable support range between $68,000 and $69,000, just shy of its all-time high earlier this year.   While the cryptocurrency has struggled to surpass this significant milestone, investor sentiment remains cautiously optimistic, with expectations for further price increases tempered by anticipated market volatility in the upcoming hours.

BNB price unfazed as Binance burns 1.7M tokens

Binance has burned over 1.7 million BNB tokens as a part of its quarterly burning initiative. On Nov. 1, Binance, the world’s largest cryptocurrency exchange in terms of trading volume, announced its 29th quarterly BNB token burn, where it removed…