A trending cryptocurrency analyst thinks Bitcoinโs price hasnโt isย still caught up with its โout-of-controlโ fundamentals.
In a new YouTube video, the anonymous host of InvestAnswers tells his 444,000 subscribers that BTCโs fundamental metrics are all going up except for Bitcoinโs supply on exchanges, which is going down.
Large amounts of Bitcoinย (BTC) outflowing from exchanges can indicate a positiveย 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 Bitcoinย (BTC) sitting in that category now.
โThen we have addresses with a balance moreย than one Bitcoinย (BTC) โ over 1 Million. Ofย course, numerous people have 5 wallets or more, so that doesnโt mean there are a Million whole-coiners, ladies and gentlemen. Thereโll never be greaterย than 330,000 whole-coiners. Onย theย otherย hand, that is just an interesting stat to look at too.
And the supply last active over one year-plus, onceย more, up and to the right. So the fundamentals are crazy strong. BTCโs price still has isย still to catch up to reflect whatโs exactly going on here when you compare these charts to traditional situations.โ
Bitcoin is currentlyย worth $26,436 atย theย momentย ofย writing. The top-ranked cryptocurrency investment by marketย capitalization is down greaterย than 2.6 percent in the past 24 hours.
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