Markus Thielen said the situation now is fundamentally different from what it was at the end of August, when a sudden large influx of the first cryptocurrency replenished stocks on trading platforms. This doesn’t happen now:
“Bitcoin balances of exchanges are plummeting, with only three platforms – Bitfinex, Binance and Coinbase – having sufficient balances to meet demand.”
If we focus on the influx of liquidity into spot bitcoins,ETFat the site Bitfinex
Bitcoin reserves will last no more than a year, the rest have even less, the expert noted. The supply shortage of digital gold will continue to increase, which may further serve as a catalyst for an increase in asset prices, Thielen concluded.
Earlier, analysts at the trading company CryptoQuant pointed to the stabilization of the Bitcoin rate. To continue the growth in the value of the first cryptocurrency, an increase in “obvious demand” for the asset is necessary, experts noted.
Source: Bits
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