Home Crypto Bitcoin Is Flashing These Bullish Metrics Despite Week of Volatility, Says CryptoQuant...

Bitcoin Is Flashing These Bullish Metrics Despite Week of Volatility, Says CryptoQuant CEO

A high government at CryptoQuant says that he’s bullish on Bitcoin (BTC) regardless of the main crypto’s tough week.

Chief government officer Ki Young Ju of the on-chain evaluation agency says that a number of of Bitcoin’s basic metrics are exhibiting indicators of rising after per week that noticed the king crypto drop practically 15% from its excessive of $52,774.

Ki Young Ju tells his 245,600 Twitter followers that Bitcoin’s provide on exchanges is nearing its 2021 lows, which might be interpreted as a bullish sign because it doubtless decreases the danger of main sell-offs.

“BTC provide on exchanges is about to interrupt its earlier low. Hope to see one other sell-side liquidity disaster on Bitcoin.”


Source: CryptoQuant

The CryptoQuant head additionally says crypto whales transferring Bitcoin into by-product exchanges, one other doubtlessly bullish indicator.

“Whales are sending BTC to by-product exchanges from different exchanges to punt new positions or replenish margins.

If you have a look at the historic information, the value goes up in the long run after their accumulation. Their positions appear to be lengthy positions.”

Source: CryptoQuant

Ki Young Ju has beforehand made a declare that he believes Bitcoin will skyrocket to $100,000 this 12 months.

“No doubt it’ll hit $100,000 this 12 months, however within the short-term, if we wouldn’t see any vital shopping for stress from Coinbase Pro, I feel BTC can be bearish.”

Don’t Miss a Beat – Subscribe to get crypto e-mail alerts delivered on to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix 


Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl will not be funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual danger, and any loses you might incur are your accountability. The Daily Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Daily Hodl an funding advisor. Please observe that The Daily Hodl participates in internet online affiliate marketing.

Featured Image: Shutterstock/DM7

- Advertisment -

Most Popular