A trending cryptocurrency analyst thinks Bitcoin’s price hasn’t is still caught up with its “out-of-control” fundamentals.
In a new YouTube video, the anonymous host of InvestAnswers tells his 444,000 subscribers that BTC’s fundamental metrics are all going up except for Bitcoin’s supply on exchanges, which is going down.
Large amounts of Bitcoin (BTC) outflowing from exchanges can indicate a positive tendency period as deep-pocketed investors accumulate the top digital asset.
The InvestAnswers host notes longstanding holder supply is going up, with approximately 14.5 Million Bitcoin (BTC) sitting in that category now.
“Then we have addresses with a balance more than one Bitcoin (BTC) — over 1 Million. Of course, numerous people have 5 wallets or more, so that doesn’t mean there are a Million whole-coiners, ladies and gentlemen. There’ll never be greater than 330,000 whole-coiners. On the other hand, that is just an interesting stat to look at too.
And the supply last active over one year-plus, once more, up and to the right. So the fundamentals are crazy strong. BTC’s price still has is still to catch up to reflect what’s exactly going on here when you compare these charts to traditional situations.”
Bitcoin is currently worth $26,436 at the moment of writing. The top-ranked cryptocurrency investment by market capitalization is down greater than 2.6 percent in the past 24 hours.
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