This website uses cookies to ensure you get the best experience on our website
Date:
16th Apr 2021
Author:
Dalmas Ngetich, for CryptoAltum News Team

Bitcoin in Circulation Moving to 'Strong Hands'

Bitcoin might be trading at near all-time highs, recently breaking above $64.5k. While at it, there is an exciting development as far as coin swapping hands is concerned. One, coins are moving from exchanges at a record pace, and BTC held by custodial exchanges is at record lows. Second, coins are moving from ‘weak hands’, mainly speculators, to ‘strong hands’ or HODLers


Details: 

This shift of demand indicates that more people are optimistic about Bitcoin's prospects, instead preferring to HODL than sell. It is an opportunity for traders, both spot and derivatives, who can trade with the primary trend by accumulating their positions in anticipation of price gains. Generally, traders expect a lift-off to six-digits in the next few months.


Impact on the BTC Price: 

Bullish. The more there are bulls, the higher the chances of BTC/USD prices rallying. Year-to-date, the Bitcoin price has more than quadrupled, spearheading the surge of digital assets. If on-chain stats guide--and more HODLers are in the equation, there could be room for more upsides.


More market news over on our Blog


Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020