An analyst points to an important metric for Bitcoin’s likely rally

The ratio of bitcoins sent to similar indicators of retail agents (Exchange Whale Ratio), disclosed to the minimum for the current year.

This was pointed out by the CEO of the analytical company CryptoQuant Ki Yong-ju.

As explained by the expert, the less funds whales send to the exchanges, the less chances of a price dump, therefore, the greater the likelihood of an analytical price rise.

The last time this figure was at a comparable level in April 2019, after which the price of bitcoin rose from $4,000 to $13,000 in a few months.

Exchange Whale Ratio is the ratio of the relative size of 10 loans to the cumulative daily inflow of funds to all monitored exchanges.

Earlier, the fact that bitcoin is flowing out of the hands of large holders, analysts at Glassnode reported. According to their observations, the balances of wallets with 10, 100 or more BTC are decreasing, and the number of addresses holding 1 or more BTC reached a record of 823,992 on September 16.

We will remind, this week the entrepreneur Robert Kiyosaki said that he was waiting for the fall of bitcoin, gold and silver after an effective vaccine against coronavirus. This is the best time to buy these assets.

Be the first to comment

Leave a Reply

Your email address will not be published.