Bitcoin Is On the Verge of Falling Towards $8,500, Then $7,000: Analyst

Bitcoin Is On the Verge of Falling Towards $8,500, Then $7,000: Analyst

Bitcoin miners are “HODLing” coins, with addresses tied to these entities seemingly stashing many of their coins. Per Crypto Quant data, there have not been “no significant exchange inflows from whales so far.” “All exchanges’ reserve hit the year-low a month ago and [have kept] that low.” This trend indicates that investors in cryptocurrency are accumulating rather than selling their coins. This has been corroborated by Glassnode.

Further boosting the Bitcoin bull case, moves have been made to implement more stimulus in the U.S. Secretary Treasury Steven Mnuchin said in a recent comment that this next bill will start at $1 trillion worth of stimulus. Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Bitcoin Is On the Verge of Falling Towards $8,500, Then $7,000: Analyst

 

source: https://bitcoinist.com/bitcoin-verge-falling-8500-analyst/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-verge-falling-8500-analyst

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