{"id":468807,"date":"2021-08-07T23:00:01","date_gmt":"2021-08-07T23:00:01","guid":{"rendered":"https:\/\/ktsl888.com\/?p=468807"},"modified":"2024-06-11T13:09:14","modified_gmt":"2024-06-11T13:09:14","slug":"bitcoin-rally-in-early-stages","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-rally-in-early-stages\/","title":{"rendered":"Bitcoin Accumulation Patterns Shows Rally Might Only Be In Its Early Stages"},"content":{"rendered":"

Bitcoin accumulation patterns continue to point to the fact that the recent rally might not be ending anytime soon. Investors have continued to hoard assets as the volume of bitcoins sent to exchanges to be sold off or traded falls below the accumulation rate.<\/p>\n

Outflows from exchanges have continued to exceed inflows into exchanges. Signaling accumulation patterns rather than sell patterns.<\/p>\n

Related Reading |\u00a0On-Chain Expert Predicts $162K Bitcoin Peak This Cycle<\/a><\/strong><\/em><\/p>\n

Wednesday saw the price of bitcoin dropping below $38,000 to be trading in the $37,000 range. Inflows of 11.3K BTC to exchanges correlated with this drop in price. But then the next two hours following this price dip saw more outflows of bitcoins from exchanges. 19.3K BTC were removed in the next two hours following the price dip. Showing investors were accumulating their coins rather than selling.<\/p>\n

Exchange Reserve Volumes Continue to Plummet<\/h2>\n

Outflows from exchanges to personal wallets for safekeeping continue to be on the rise. Bitcoin exchange reserve volumes have seen decreasing numbers<\/a> following the price crash from the all-time high, and the number has continued to go down. More coins leaving the exchanges than coming in shows that there is currently no selling pressure. Thus, accumulation is the order of the day as investors try to get their hands on as many coins as they can.<\/p>\n

Related Reading |\u00a0Bitcoin Set To Outperform In Second Half Of 2021, Bloomberg Analyst<\/a><\/strong><\/em><\/p>\n

Just over a week ago, a report from CryptoQuant<\/a> showed that the volume of BTC currently held on exchanges dropped over 100K in just the span of two days. Numbers like these often indicate that there is significant buy pressure in the market. And buy pressures usually lead to accumulation, which in turn drives the value of the asset higher.<\/p>\n

Top exchanges continue to see large volumes of BTC leaving their exchanges on the daily. Centralized exchanges like Binance and Coinbase have seen the highest number of Bitcoins moved out of their exchange.<\/p>\n

Related Reading |\u00a0Bitcoin To Surpass $120,000 In A Year, Says Pantera CEO<\/a><\/strong><\/em><\/p>\n

Investors continue to see the merit in investing in cryptocurrencies like BTC. Indicators show that general market sentiment continues to buy and hold. So, these investors are going to continue to buy as many bitcoins as they can, and hold these coins in wait for bull rallies.<\/p>\n

Bitcoin Continues To Move Forward<\/h2>\n

Bitcoin continues to see favorable outlooks despite the price taking hits in the market. Following El Salvador\u2019s lead, as they make BTC a legal tender, Uruguay recently proposed a bill<\/a> to also make the cryptocurrency legal tender in the country.<\/p>\n

Megabanks JP Morgan and Wells Fargo have both announced that their high-net-worth clients would have access to investment options that would provide them exposure to the crypto market. Hopefully leading to the opening of these investment options to the rest of the general public.<\/p>\n

\"Bitcoin<\/p>\n

BTC price close to testing $41K resistance point | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Market analysts continue to see bullish movements in the price of the asset. With on-chain data analysis showing that daily transaction volumes are up following the recent price rally.<\/p>\n
With so many bullish indicators, it is no stretch to think that the rally might just be beginning. Bitcoin still may be able to break $50K before the year runs out if these indicators are anything to go by.<\/p>\n
Featured image from Flickr, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin accumulation patterns continue to point to the fact that the recent rally might not be ending anytime soon. Investors have continued to hoard assets as the volume of bitcoins sent to exchanges to be sold off or traded falls below the accumulation rate. Outflows from exchanges have continued to exceed inflows into exchanges. Signaling accumulation patterns rather than sell patterns. Related Reading |\u00a0On-Chain Expert Predicts $162K Bitcoin Peak This Cycle Wednesday saw the price of bitcoin dropping below $38,000 to be trading in the $37,000 range. Inflows of 11.3K BTC to exchanges correlated with this drop in price. But then the next two hours following this price dip saw more outflows of bitcoins from exchanges. 19.3K BTC were removed in the next two hours following the price dip. Showing investors were accumulating their coins rather than selling. Exchange Reserve Volumes Continue to Plummet Outflows from exchanges to personal wallets for safekeeping continue to be on the rise. Bitcoin exchange reserve volumes have seen decreasing numbers following the price crash from the all-time high, and the number has continued to go down. More coins leaving the exchanges than coming in shows that there is currently no selling pressure. Thus, accumulation is the order of the day as investors try to get their hands on as many coins as they can. Related Reading |\u00a0Bitcoin Set To Outperform In Second Half Of 2021, Bloomberg Analyst Just over a week ago, a report from CryptoQuant showed that the volume of BTC currently held on exchanges dropped over 100K in just the span of two days. Numbers like these often indicate that there is significant buy pressure in the market. And buy pressures usually lead to accumulation, which in turn drives the value of the asset higher. Top exchanges continue to see large volumes of BTC leaving their exchanges on the daily. Centralized exchanges like Binance and Coinbase have seen the highest number of Bitcoins moved out of their exchange. Related Reading |\u00a0Bitcoin To Surpass $120,000 In A Year, Says Pantera CEO Investors continue to see the merit in investing in cryptocurrencies like BTC. Indicators show that general market sentiment continues to buy and hold. So, these investors are going to continue to buy as many bitcoins as they can, and hold these coins in wait for bull rallies. Bitcoin Continues To Move Forward Bitcoin continues to see favorable outlooks despite the price taking hits in the market. Following El Salvador\u2019s lead, as they make BTC a legal tender, Uruguay recently proposed a bill to also make the cryptocurrency legal tender in the country. Megabanks JP Morgan and Wells Fargo have both announced that their high-net-worth clients would have access to investment options that would provide them exposure to the crypto market. Hopefully leading to the opening of these investment options to the rest of the general public. BTC price close to testing $41K resistance point | Source: BTCUSD on TradingView.com Market analysts continue to see bullish movements in the price of the asset. With on-chain data analysis showing that daily transaction volumes are up following the recent price rally. With so many bullish indicators, it is no stretch to think that the rally might just be beginning. Bitcoin still may be able to break $50K before the year runs out if these indicators are anything to go by. Featured image from Flickr, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":468810,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,83982,679,1119,1144,78790,79520],"class_list":["post-468807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-accumulation","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt","tag-xbtcusd"],"acf":[],"yoast_head":"\nBitcoin Accumulation Patterns Shows Rally Might Only Be In Its Early Stages<\/title>\n<meta name=\"description\" content=\"Bitcoin accumulation patterns continue to point to the fact that the recent rally might not be ending anytime soon. 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With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/ktsl888.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Accumulation Patterns Shows Rally Might Only Be In Its Early Stages","url":"http:\/\/ktsl888.com\/news\/bitcoin-rally-in-early-stages\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-rally-in-early-stages\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/08\/bitcoin-piggybank.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/08\/bitcoin-piggybank.jpeg?fit=1024%2C696"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin accumulation","bitcoin price","btc","btcusd","btcusdt","xbtcusd"],"dateCreated":"2021-08-07T23:00:01Z","datePublished":"2021-08-07T23:00:01Z","dateModified":"2024-06-11T13:09:14Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Accumulation Patterns Shows Rally Might Only Be In Its Early Stages\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-rally-in-early-stages\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-rally-in-early-stages\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/bitcoin-piggybank.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/bitcoin-piggybank.jpeg?fit=1024%2C696\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin accumulation\",\"bitcoin price\",\"btc\",\"btcusd\",\"btcusdt\",\"xbtcusd\"],\"dateCreated\":\"2021-08-07T23:00:01Z\",\"datePublished\":\"2021-08-07T23:00:01Z\",\"dateModified\":\"2024-06-11T13:09:14Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/08\/bitcoin-piggybank.jpeg?fit=1024%2C696","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/468807"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=468807"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/468807\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/468810"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=468807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=468807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=468807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}