Bitcoin-O-Bitcoin, what vitality over the years, what unpredictability, even after falling $1,500 after briefly touching $12,000 a few days back, the cryptocurrency seems to be on its way to hit the $12,000 milestone anytime soon over the weekend.
At the time of writing this article, the price is $11,834.80. and Bitcoin is eying up to $12,000 after $1.2 billion in exchanges. It seems like investors are not willing to sell as the number of Bitcoin held in exchange wallets; literally took a dip and that’s a bullish sign.
A popular analyst Cole Garner wrote on Twitter
“The amount of #Bitcoin held on exchanges just dropped off a cliff,”
The decreasing number of coins held at exchanges suggest that investor may be thinking about holding BTC, not selling or trading it at a short notice.
One can see, the reason why Bitcoin is taken off-exchange is the intention of not selling them, anytime soon to see further market behavior.