Perhaps people learned that their coins are not 100% safe and guaranteed insured on exchanges, though there are still quite a number that believes that exchanges' security system are 100% hack-proof (which isn't).
Big entities buying huge amounts of bitcoin are the main culprit as to why exchanges are depleting their reserve of bitcoin in their stashes. If this trend continues then there may be an artificial, short-term shortage of coins in the market possibly pushing the price on insane levels. So far, situations aren't that bad yet and haven't reach its boiling point so there's no real need to panic.
The market, also has since entered into a stagnant phase. While there aren't many coins in the market, there isn't enough money laying around to buy these things, hence why we are still not pushing aggressively price-wise.
Topic: The total BTC balance on exchanges continuously decreasing since 2020 - page 3. (Read 566 times)
April 28, 2021, 05:16:16 PM
April 28, 2021, 04:13:59 PM
I keep seeing these things on Twitter which charts detailing the amount of coins on exchanges decreasing. Tye price isn’t going up now though is it, we are 10% down from the ATH. Why isn’t the price going up if available supply is less?
April 28, 2021, 04:00:23 PM
We are still far away from the bull run top. Hold some BTC for long term.
I feel the same, although we may have to wait for months until the second stage begins.
I've seen previous 2 bull runs compared and it seems that we are still very close to the median price. In the previous runs we were exploding far above into the overbought territory. This time we haven't seen the real FOMO craze. People are acting like more careful buyers this time.
Like in 2017 we went from 1000 to 3000 and then to 20000. 20x the ATH. The 3x ath we've seen this year is nothing compared to that.
April 28, 2021, 03:51:36 PM
The total BTC balance on exchanges continuously decreasing since 2020. This shows that investors are withdrawing and storing their BTC in hardware and cold wallets. They are accumulating BTC for long term. Less BTC on exchanges means less selling pressure.
The same pattern is find after the 2016 halving and we see a long bull run until Dec 2017.
We are still far away from the bull run top. Hold some BTC for long term.
The same pattern is find after the 2016 halving and we see a long bull run until Dec 2017.
We are still far away from the bull run top. Hold some BTC for long term.
There are more whales in the market than ever and at the same time they are buying like crazy now exchanges are not the place to store your money and therefore these people are actually investing at a much safer place. At the same time after the price explosion of bitcoins. People have realized that they can make more money just by holding and therefore instead of exchanges people are preferring storing all that money at a stable and safe place.
I do think we have reached a point where the demand is more towards holding and investing rather than trading. That's something personal I believe. So I do think we might be just making this situation more serious that it probably is. Don't worry ! People are more educated about cold storage now.
there is right friend,
Cryptocurrency world expert, concludes this year is a very volatile BTC movement, let's see for this month, may.
April 28, 2021, 01:57:59 PM
The total BTC balance on exchanges continuously decreasing since 2020. This shows that investors are withdrawing and storing their BTC in hardware and cold wallets. They are accumulating BTC for long term. Less BTC on exchanges means less selling pressure.
The same pattern is find after the 2016 halving and we see a long bull run until Dec 2017.
We are still far away from the bull run top. Hold some BTC for long term.
The same pattern is find after the 2016 halving and we see a long bull run until Dec 2017.
We are still far away from the bull run top. Hold some BTC for long term.
There are more whales in the market than ever and at the same time they are buying like crazy now exchanges are not the place to store your money and therefore these people are actually investing at a much safer place. At the same time after the price explosion of bitcoins. People have realized that they can make more money just by holding and therefore instead of exchanges people are preferring storing all that money at a stable and safe place.
I do think we have reached a point where the demand is more towards holding and investing rather than trading. That's something personal I believe. So I do think we might be just making this situation more serious that it probably is. Don't worry ! People are more educated about cold storage now.
April 28, 2021, 01:50:20 PM
The truth is the long-term investors prefer storing their bitcoin in a hardware wallet and besides you don’t have business with an exchange when you are not a trader and the numbers of traders are few compared to holders.
April 28, 2021, 01:43:19 PM
But what's the harm in keeping it on an exchange and not traded, is it at a loss? and if it is lost it will be the responsibility of the exchange, but if it is stored in a hard wallet and is lost, only you are responsible.
so which one is more effective and safer when securing your Bitcoin?
so which one is more effective and safer when securing your Bitcoin?
First of all, your coins won't get lost in an exchange. In rare scenarios, they are compromised by hackers or phishers and in a case like that, the exchange would never take the responsibility and compensate you with the amount of coins you had from their own vault. That doesn't happen.
Another scenario that could occur is the glitches and errors in systems, which might be the reason for the funds getting unsettled for a while, but that wouldn't be a problem and the exchange would rectify that themselves.
So overall, the ideal solution is to withdraw and store your coins somewhere like a cold wallet, and keep your private keys safe. It is never recommended to keep storing your assets in an exchange unless you are using them for trading purposes.
April 28, 2021, 01:42:11 PM
Everyone knows about the risk of holding Bitcoin to an Exchange.
Everyone? No, they don't!
There are thousands there who think their coins are insured on exchanges, thousands who don't haven't read the terms and conditions, oh heck, there are even those who don't know how an exchange works.
As for the data itself, I don't know how accurate that is, they are tracking wallets basically, an exchange changing their cold wallets makes this metric useless until they find out the new one and add it to the queue, that is if they manage to do so, for example, nobody has yet accurately identified all Coinbase cold storage coins and there a million of them. And in the past glass node has made a lot of claims that have been proved to be total, crap, I won't forget this one all my life. They are in the business of selling charts and they try to make them more important than they are.
That being said I hope the numbers drop to zero, investors should keep those coins in proper cold storage and normal users should keep those in their damn wallets, Thodex was just a fresh example of why you should't!
April 28, 2021, 12:39:33 PM
Isn't that one of the reasons why Bitcoin price records a new ATH? Because many instinctual investors buying Bitcoin, obviously they wouldn't hold their BTC into the exchange. Everyone knows about the risk of holding Bitcoin to an Exchange. Holding more means there is less circulation, but demand is increasing. As a result, Bitcoin starts to move uptrend. Anyway, holding your fund isn't safe for the exchange, so what is happening is right. Still, it's a positive movement for Bitcoin users and holders as well.
April 28, 2021, 11:20:30 AM
a safe way as well as a concern if the wallet containing Bitcoin is lost, the secret word is not properly guarded. withdrawing Bitcoin from Exchange is a long-term goal. But what's the harm in keeping it on an exchange and not traded, is it at a loss? and if it is lost it will be the responsibility of the exchange, but if it is stored in a hard wallet and is lost, only you are responsible.
so which one is more effective and safer when securing your Bitcoin?
so which one is more effective and safer when securing your Bitcoin?
According to my experience, if it is lost on the platform or exchange, will the company replace it? Of course not, and intended to be hacked, but if in a private wallet it is more effective and safer, depending on how you secure your private key, friend.
April 28, 2021, 11:12:59 AM
Does anyone think the mainstream exchanges will freeze retail investors from selling at the top if BTC reaches extreme highs?
April 28, 2021, 11:10:16 AM
a safe way as well as a concern if the wallet containing Bitcoin is lost, the secret word is not properly guarded. withdrawing Bitcoin from Exchange is a long-term goal. But what's the harm in keeping it on an exchange and not traded, is it at a loss? and if it is lost it will be the responsibility of the exchange, but if it is stored in a hard wallet and is lost, only you are responsible.
so which one is more effective and safer when securing your Bitcoin?
so which one is more effective and safer when securing your Bitcoin?
April 28, 2021, 11:01:31 AM
The total BTC balance on exchanges continuously decreasing since 2020. This shows that investors are withdrawing and storing their BTC in hardware and cold wallets. They are accumulating BTC for long term. Less BTC on exchanges means less selling pressure.
The same pattern is find after the 2016 halving and we see a long bull run until Dec 2017.
We are still far away from the bull run top. Hold some BTC for long term.
There are rumours that Facebook holding Bitcoin. The news is covered by Fox Business. Facebook may announce the buying or holding if BTC anytime and that will pump BTC. Everyone wants to get their hands on BTC, we are too early. HODL and enjoy the bull run.
https://twitter.com/DocumentingBTC/status/1387444415120265222?s=20
The same pattern is find after the 2016 halving and we see a long bull run until Dec 2017.
We are still far away from the bull run top. Hold some BTC for long term.
There are rumours that Facebook holding Bitcoin. The news is covered by Fox Business. Facebook may announce the buying or holding if BTC anytime and that will pump BTC. Everyone wants to get their hands on BTC, we are too early. HODL and enjoy the bull run.
https://twitter.com/DocumentingBTC/status/1387444415120265222?s=20
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