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Amount of Bitcoin on exchanges is minimum

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Each day that passes, more and more people are joining the crypto world. A good part of them attracted by the promise of big winnings that you can get in the market. Especially if you participate in the trading of criptoactivos through the multiple platforms that exist in the world. However, and despite the popularity of the trading, the amount of Bitcoin at exchanges is at its lowest level in a long time.

The importance of trading for the crypto world

It is impossible to underestimate the importance of the exchanges for the crypto world. So, are these platforms that allow communication of the various cryptocurrencies. Which are exchanged for one another within these exchanges, by defining its value. Therefore, the projects that support them, through the laws of supply and demand. Thus, a person in any part of the world that you own Bitcoin and want to buy Ethereum, XRP or Dogecoin, you only have to log in to your exchange of trust, and carry forward the exchange. It also opens the door to the possibility of getting rich through trading. Taking advantage of the small (or large) variations in the price of the cryptocurrencies in order to generate profits. This has led, over time, the general public has begun to relate to the cryptocurrencies with the trading. With some people, like the investor and crypto-skeptic, Peter Schiff, stating that the only real value of the Bitcoin is to be a financial asset speculative. For some investors smart people generate profits. But beyond these judgments that overlook the endless possibilities that it opens up the technology Blockchain. What is certain is that the trading has gained great popularity, as the main activity economically profitable in the market of Bitcoin and other cryptocurrencies. What is not prevents the amount of Bitcoin at exchanges is at its lowest level in a long time.

Becoming less and less Bitcoin in exchange

As well, a study conducted by Glassnode, shows that the number of Bitcoin on the exchanges has been declining steadily since the end of march of this year. Going over 2,600,000 Bitcoin within the entire ecosystem of exchanges of the crypto market. Until less than 2.350.000 Bitcoin for this last week. Amount of Bitcoin at exchanges is at its lowest level in a long time. Source: Glassnode A fall as abrupt in the amount of Bitcoin handled by the exchanges, represents the largest decline in this statistic in the record. Finding, probably, the main culprit behind this negative performance in the economic crisis generated by the Coronavirus. And that is, the exit of BTC from the exchanges of the crypto market began to occur in mid-march. Just when the global financial market collapsed before the arrival of the Covid-19 to the west. Dragging along the price of Bitcoin and gold. Which generated a crisis of confidence that led to withdrawals of massive of Bitcoin by users of exchanges, as BitMEX. However, there is an explanation more positive for the crypto world. Therefore, the arrival of the third Halving of Bitcoin has brought with it a great deal of optimism within the crypto community. Which expects a substantial increase in the price of BTC. So, large investors may be pulling back their cryptocurrencies of the exchanges, to save them waiting for the awaited bullish rally. Be that as it may, it is certain that this reduction of the money stored by users in the exchanges of the crypto world, back to the crypto market to the situation it was in at the beginning of 2019. By limiting the liquidity available for the large exchange platforms. And making this fall our Fact of the Day today here in CritoTendencia.

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About the author

Caroline W.

Caroline W.

Caroline is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2018, she joined CurrencyMarket24 as a writer.