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26 September 2020

On-chain data signals increasing Bitcoin activity — But there’s a catch

On-chain data signals increasing Bitcoin activity — But there’s a catch


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Ki also noted that the number of Bitcoin transfers achieved a new yearly high and that these transactions didn’t come from exchanges.

This is not $BTC changing hands, and not real economic throughput… Just wanted to point out that this is not the case, volume is in fact flat – these are just huge amounts of change BTC.”.

In that case, it would not necessarily be a bullish trend for Bitcoin in the near term.

If the spikes in Bitcoin volume are OTC deals, then it is an optimistic trend that indicates the possible start of an accumulation phase

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cointelegraph.com
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