Bitcoin Supply Drop Signals Upbeat Price Movement, Analyst Says

After its latest halving event, Bitcoin sent a positive signal throughout the crypto market. Historically, this big drop in supply has been connected to notable price gains, which has inspired investor hope. Related Reading: Debunking Doubts: How XRP Could Achieve A 3-Digit Surge — Analyst The halving, which cut the rate at which new Bitcoins were made, has actually slowed the flow of new Bitcoins into the market. This sudden drop in supply, along with growing interest from institutions and wider use, is likely to push Bitcoin prices up. Many investors are attentively observing these dynamics and expect a similar trend in the near future; previous halvings have sometimes followed significant price rebounds. Bitcoin: Changing Investor Attitudes The substantial decline in the number of new deposit addresses on cryptocurrency exchanges marks a clear trend in the Bitcoin market. Data from the well-known analysis tool CryptoQuant shows that just 25,000 rather than 70,000 freshly registered Bitcoin deposits exist. This decline in selling pressure denotes a change in investor behavior towards holding rather than trading their Bitcoin. Investors are unwilling to sell #Bitcoin “A decreased willingness to sell assets could lead to a reduction in the supply of Bitcoin on the market, which, with steady or increasing demand, may cause price increases.” – By @AxelAdlerJr Full post

Jul 26, 2024 - 18:00

Bitcoin Supply Drop Signals Upbeat Price Movement, Analyst Says

After its latest halving event, Bitcoin sent a positive signal throughout the crypto market. Historically, this big drop in supply has been connected to notable price gains, which has inspired investor hope.

The halving, which cut the rate at which new Bitcoins were made, has actually slowed the flow of new Bitcoins into the market. This sudden drop in supply, along with growing interest from institutions and wider use, is likely to push Bitcoin prices up.

Many investors are attentively observing these dynamics and expect a similar trend in the near future; previous halvings have sometimes followed significant price rebounds.

Bitcoin: Changing Investor Attitudes

The substantial decline in the number of new deposit addresses on cryptocurrency exchanges marks a clear trend in the Bitcoin market. Data from the well-known analysis tool CryptoQuant shows that just 25,000 rather than 70,000 freshly registered Bitcoin deposits exist. This decline in selling pressure denotes a change in investor behavior towards holding rather than trading their Bitcoin.

Investors are unwilling to sell #Bitcoin
“A decreased willingness to sell assets could lead to a reduction in the supply of Bitcoin on the market, which, with steady or increasing demand, may cause price increases.” – By @AxelAdlerJr
Full post
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