Bitcoin in the year 2020, a roller-coaster ride down. The Bitcoin exchange rate is strong in the new year, the emerging Corona is started but the crisis has missed the BTC a regular shock absorber. The historical decline of over 50% within a day after the traditional market is slumped, it was only for a short time. Within a few days the Bitcoin price has recovered and is currently back on the $ 8,000 mark. This positive movement is true currently, many analysts are bullish. What also has to do certainly with the Bitcoin Halving together.Glassnode has now published a report on Bitcoin Halving and the BTC On-Chain data. According to the published data, is Bitcoin better than ever. Will catapult the Halving of the BTC course in the direction of the North, or a sell-off before us?
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Iron Bitcoin Investors
Bitcoin this year has reached its previous Low of 3,800 USD. It is interesting to note that even the panic around Corona has not brought the Bitcoin price below the Low of 2019. At that time, the low-point was $ 3,200 a month. This could be an indication that the BTC slips below of 3,800 USD.Glassnode, a Blockchain Analytics company, has released a new report on the upcoming Bitcoin Halving. According to the report, an important milestone before BTC is the Bitcoin rate to rise. In the report it is stated:
In the weeks prior to this milestone, a number of On-Chain-key ratios suggests that investors are (the bullish sentiment surrounding the Halving) agree, and their positions and the existing positions hold. In addition, the change of hoarded Bitcoin remained positive.Thus, more and more BTC from investors will be accumulated. It is also the strong decline of over 50% has changed nothing. This suggests that investors used the sell-off, to increase your BTC Position.
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Investors pull their BTC from the Central exchanges Wallets
It is estimated that more than 40% of the total Bitcoin supply in the last two years have not moved. In other words, it was not sold or traded. The Bitcoins remained within the Wallets. This is an increase of more than 10% from 2019. This will probably surprise some. Especially after one has followed the strong Bitcoin exchange rate fluctuations of the last few months. Investors were not from the uncertain market conditions intimidate. This shows how optimistic many investors are still.
The BTC that was sent during the strong Bitcoin price slump on the stock markets, have remained largely unaffected and stay on the Wallets of Exchanges. On the other hand, the total holdings of Bitcoins have dropped in the Wallets to the Exchanges of more than 10% since the peak in February.To Withdraw funds from the trading platforms could strengthen the idea of a long-term optimistic expectations of traders. Despite the instability and uncertainty, both in the traditional as well as on the crypto-markets is the On-Chain-metrics point to an optimistic Outlook for the investors, if the Halving is getting closer.
Finally, only the question of how long-term investors will behave according to the Bitcoin Halving remains. Many suspect that there is a Dump on the day of the Halvings, and for several weeks thereafter. However, since the majority felt emanating from such a course, it will be increasingly unlikely. So it remains nothing more than wait and watch. For long-term Bitcoin investors, the Halving is a long-term bullishes Signal. It is the next four years, fewer new Bitcoin and thus reduce automatically the supply of BTC on the markets by the Miner, the need to cover their costs.In the short term it could go up to the Halving continues uphill. The interest in this fundamental Event continues to grow. Nevertheless, such one-price to enjoy always with caution. In the long term, these short-term movements play a relatively minor role.
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