273,000 Bitcoins taken away from crypto market within a month

[Saniboss]

Despite the prevailing market condition in the flagship crypto market, crypto investors are rapidly locking up their Bitcoin assets for the long haul, with 273,000 Bitcoin being taken out of circulation in the past month.

What you should know: Data retrieved from crypto analytic firm, Glassnide, revealed that “liquid” Bitcoin addresses have shed 270,000 BTCs over the past 30 days, up from 175,000 Bitcoin at the start of January 2021.
At the time of writing, Bitcoin was trading at $34,771.82 with a 24-daily trading volume of $66 Billion. Bitcoin is down 3.63% for the day.

What this means: Increased buying pressure from large pocket investors might be the significant force driving the scarcity of Bitcoin, as about 33 institutional investors have stashed more than 1.2 million Bitcoin, or 6.5% of BTC’s circulating supply.

 

[Ralphjoe]

This maybe the reason why the price of Bitcoin is reducing from it high price of $40,000 to it current $34,000 price. Well the scarcity of Bitcoin is supposed to drive the price of Bitcoin up though.

 

[Ehizzy1]

I think people are now holding bitcoin instead of trading on a daily so that that they can earn more from the bullish run of bitcoin. , but i think the price would still increase it might stay at the 30k range for a while , but there is possibility of high increase in the price of bitcoin ,,lets just be optimistic about the price of bitcoin

 

[Josemendez]

Despite the prevailing market condition in the flagship crypto market, crypto investors are rapidly locking up their Bitcoin assets for the long haul, with 273,000 Bitcoin being taken out of circulation in the past month.

What you should know: Data retrieved from crypto analytic firm, Glassnide, revealed that “liquid” Bitcoin addresses have shed 270,000 BTCs over the past 30 days, up from 175,000 Bitcoin at the start of January 2021.
At the time of writing, Bitcoin was trading at $34,771.82 with a 24-daily trading volume of $66 Billion. Bitcoin is down 3.63% for the day.

What this means: Increased buying pressure from large pocket investors might be the significant force driving the scarcity of Bitcoin, as about 33 institutional investors have stashed more than 1.2 million Bitcoin, or 6.5% of BTC’s circulating supply.

This is an indication that bitcoin is warming up for the next Bullish run ,which will see Bitcoin soar as high as $70k . This will be as a result of Institutional investors and other investors holdl than selling thus making demands to exceed supply and thus make the price to skyrocket.

 

[Enzymada]

I think that's how bitcoin works. In order to grow up or have a greater value, to rise up it should fall and that's how the bitcoin circulation will continue. Wether the traders will sell their BTC or stake it. But history repeats itself bitcoin will surely rise again.

 

[Nurudeen]

This is the major reason why the price of bitcoin have been diping since last week. It's jus because the whales in the system have cashed out a whole lots of money. However, according to some finanacial analyst it was revealed that the price of Bitcoin will surge pass $40,000 in the next few weeks in the market.

 

[GoldenLady]

Despite the prevailing market condition in the flagship crypto market, crypto investors are rapidly locking up their Bitcoin assets for the long haul, with 273,000 Bitcoin being taken out of circulation in the past month.

What you should know: Data retrieved from crypto analytic firm, Glassnide, revealed that “liquid” Bitcoin addresses have shed 270,000 BTCs over the past 30 days, up from 175,000 Bitcoin at the start of January 2021.
At the time of writing, Bitcoin was trading at $34,771.82 with a 24-daily trading volume of $66 Billion. Bitcoin is down 3.63% for the day.

What this means: Increased buying pressure from large pocket investors might be the significant force driving the scarcity of Bitcoin, as about 33 institutional investors have stashed more than 1.2 million Bitcoin, or 6.5% of BTC’s circulating supply.

This is good news for long term investors, bad news for those doing short term trading.

It means more people have hopes of seeing higher prices for Bitcoin in the future.

 

[Dowenship]

I believe scarcity should be a force that makes things increase in price or value but it seems that reverse is the case because since that time it becoming scarce, bitcoin as been fluctuating between $37k to $34k which as reduced compare to it $40 mark Earlie4 this year

 

[Shivay]

Well! The reason of this scarcity caused the so much fluctuation in the price of bitcoin. As we all saw , Bitcoin touched around 43000$ First week and then within a week it went to 35000$. This much price fluctuation is only because of this scarcity .

 

[Prettybabe]

Wait!!! I don't get it. Is scarcity not supposed to drive the price up? How come it's the reverse in this very case.

Anyway, this should be a good news for us that would love to buy Bitcoin very soon. I hope it keeps dipping so I can be able to afford more.

 

[gammarays]

This maybe the reason why the price of Bitcoin is reducing from it high price of $40,000 to it current $34,000 price. Well the scarcity of Bitcoin is supposed to drive the price of Bitcoin up though.

We're in the correction period of Bitcoin. Expect the price to go down a bit. However it's an opportunity to buy Bitcoin during it's slight dump because it's going to pump again. Expect it to break it's personal record in the coming months. Time is coming when Bitcoin will be scarce, only hoarders and investors will benefit.

 

[Aniwhyte]

I really don't know if I should be happy about this news or sad about it, it is somewhat a good news because demand of bitcoin is sure going to be on the increase and this would make bitcoin rise, I think it is time for me to start investing on cryptocurrency again, most especially bitcoin as something good is about to happen soon.

 

[ahmedo24]

I am also very optimistic that this is the best Period to get bitcoin because the price may not go below this amount again but rather continue to increase back to $37000 trading value or break the $40 barrier once and for all.

 

[Taimoor Jutt]

3, 4 hours ago the price of bitcoin has fallen about 2k, 3k dollars and still going down. I think the main reason is mentioned in post thread. This is not a good sign for investors, hope it will increase again to near about $40k. This is right time to invest there, because now it may increase.

 

[Erik4150]

Is that the reason why bitcoin price is falling. I don't know how the high demand affected the price, isn't it supposed to increase it not decrease it. Anyway this is good news for those who are looking forward to investing in bitcoin.

 

[Donkiz]

This buying up of circulating bitcoins for storage by big organizations is one of the major reasons that causes scarcity of tradable bitcoins thereby making bitcoin price to appreciate. This is good news for bitcoin investors, because the higher the price the more profit they will make.

 

[Ralphjoe]

We're in the correction period of Bitcoin. Expect the price to go down a bit. However it's an opportunity to buy Bitcoin during it's slight dump because it's going to pump again. Expect it to break it's personal record in the coming months. Time is coming when Bitcoin will be scarce, only hoarders and investors will benefit.

Wow thanks for this invaluable advice that you have given me about the decrease in the value of Bitcoin, I used to be confused about the reason why the value of Bitcoin is decreasing despite the barrage of institutional investment that invested into the Cryptocurrency.

 

[Trojan8]

People keep creating artificial blackholes where bitcons are held.
This way demand would exceed supply thereby leading to an over demand. And then price following the laws of demand and supply rise up in order to meet demand.

 

[joy101]

This is the reason why bitcoin price has been high since last week, and bitcoin price will continue to raise in order for investors to make more profit, as we continue to invest In Cryptocurrency the price will continue to increase every blessed day.

 

[Ehizzy1]

This is the reason why bitcoin price has been high since last week, and bitcoin price will continue to raise in order for investors to make more profit, as we continue to invest In Cryptocurrency the price will continue to increase every blessed day.

Yeah i think things like this do have impact on the price of bitcoin and i think its caused mainly by people holding bitcoin instead of selling fun ,,since there are many high hopes of bitcoin price increasing in the future , so that makes more people to hold the crypto instead of selling on time i think