Topic: Bitcoin balance on exchanges reached a 2-year low - page 2. (Read 217 times)

Q. Why would you have Bitcoin on an exchange (other than having
nowhere else to store it)?
A. because you are going to sell or trade it in the very near future.

Q. Why would you take it off an exchange?
A. Because you are not planning on selling or trading it in the short to
medium term at the least.

More and more people are practicing the art of HODL, and are looking to
the long term, same as what Michael Saylor is preaching. Combine this
with only 6.25 Bitcoin being generated per block, 900 per day it kind of
creates a shortage.

The people like you and me (who registered during 2018 era) very well know that how random threads would pop up now and then to express the excitement during the bull market  it's very well known people from 2017-2018 has matured similar to how people from 2013 were matured in 2014. All these NFTs, altcoins and the Defi trend are meant to rob Bitcoins from bitcoiner and turn them into a nocoiner during the long run and that's how the ICO guys did and ran away ruining the whole market.

We could say that people who sustained the 2019 drop are more or less driven towards the tech behind bitcoin and not regarding these no-brainer price predictions. Having lost some serious amount of bits in alts, I believe people believing in NFTs and Defi would end up in the same way. On top of this, there are still quite minor differences between the 2017 bull run and 2021 bull run i.e 2017 was driven by insiders, whales and ICO scamsters but 2021 is being fuelled by institutional investors and NFT and Yield scam artists! If a whale like Saylor dumps his coin, the FOMO would kick in but I personally wouldn't trust Saylor's word after his DotCom crash words and knowing about his tweet from 2013


Sadly, bitcoin has moved completely away from the way how Satoshi envisioned it to be. If this continues, the commerce market of bitcoin would die very soon (i.e none would use Bitcoin to buy or sell goods) because speculation would rise in huge percentage and HODLERs will increase the demand for the same.

There are only 2 reasons i do have in mind on why balance on btc exchangers are going low.

•People are afraid with exchange hacks so they opt to hold in into their own non custodial or hardware wallets.
•People doesnt tend to sell out for now and decided to pull off those funds out of exchange and make transactions later when its the right time for them to sell

It isnt really surprising for this kind or having this statistics because even how exchange platform or service to be that popular doesnt mean
that confidence would really be still that high.

The clear thing this time is that many are not willing to sell chunks of their bitcoins at any point. While the large enterprises are buying a lot of bitcoin with those millions to billions of purchases.
It is a sign that they're trying to work on it for the lesser supply in the circulation and whoever holds the most is onto the top of the game/market. If this continues, just as what happened to some exchanges, they may put a limit on each sale that they do for bitcoin even though with complete compliance for their users account.

That is exactly what is happening, no downtrend this time, bitcoin price will either increase or just remain good, but I really valid your point, if any institution withdraw large percentage of bitcoin, panic and fomo seller will full the market in no time, thereby selling bitcoin, which can result to downtrend price. This increment continues but as the calm will also be the storm, it can not continue like this, there will be some bad months for bitcoin, but over long time, the price will always increase more.

Eh....maybe.  There's no telling how long this "trend" is going to continue--and if you've been into bitcoin long enough, you ought to know that surprises should come as no surprise.  Those companies that bought bitcoin may or may not hold onto it forever, and if any one of them decide to dump their holdings onto the market, watch out.  There'll be plenty of bitcoin available across all the exchanges in no time.

But I'm hoping you're correct, because low supply on exchanges (and assuming a constant or increasing demand) should mean a boost in price.  You just never know, though.  Demand could slump and a lot of individual sellers could drive the price down if they decide to sell all at once.  Somehow I don't see that happening anytime soon, because the vibe I'm getting from the market is extremely bullish.

Damn good year for bitcoin so far, I must say.  Let's hope it continues.

although it is extremely hard to measure how much bitcoin is on exchanges and how much is in cold storages but it is not surprising that people are moving out of exchanges nowadays that bitcoin price is inside a short channel going up and down without breaking out.
this is how the accumulation phase also works. people keep buying bitcoin and there soon will be a shortage of supply on exhanges and price is going to shoot up.

This is pretty decent drop. Like >20%. Where to find chart for longer period? Like 2014 - 2021. Or similar chart for stable coins?


Everyone who was here during 2017-2018 bubble burst knows that that's not how the end of bull market looks like for bitcoin. -20% dump and calm consolidation. The end of bull market will be like -40% in a week, -70% in 2 months. So I agree. We will fly easily after breaking new ATH.

Maybe. But let's not be too overconfident and think that just because people are withdrawing funds on exchanges, it automatically means that the price will go up.

First, demand still needs to keep up. While I'm pretty confident on this, it's still definitely not guaranteed.

Second, let's not forget that people cant simply send the coins from their own wallets back to the exchanges LOL.

Yes, we have been following this trend for some time, as shown in the chart and as discussed in other posts. It looks like the price has to keep going up, with its drawbacks, of course, but the equation is clear: High demand- Low supply.
Therefore, the price has to keep going up.

I have read about this some days ago, which is an indication that whales are not ready to sell for now, which is an indication bitcoin price is not decreasing for now, it will be between $40000 to $60000. Although, I do not know if the price of bitcoin will break $60000 but whales holding on wallet now indicate the price will not decrease.

More people are moving them BTC for exchange to Cold storage and with difficulty accessing many platforms when Bitcoin breaks ATH and the institutional demand increases, the price will rise easily after 58,330.57 point.



https://studio.glassnode.com/metrics?a=BTC&m=distribution.BalanceExchanges