Found: These Investors Are Pumping Up Bitcoin’s Unstoppable Rise!
Blockstream CEO Adam Back explains why Bitcoin has set a new all-time high. Meanwhile, supply of BTC on the exchanges continues to fall.
Adam Back: individual investors pumped up the latest Bitcoin rally!
Blockstream CEO Adam Back explains the reasons why leading cryptocurrency Bitcoin broke critical resistance levels without any difficulties. Meanwhile, the Bitcoin balance on crypto exchanges continues to fall as users stack their BTC. On December 25, the leading cryptocurrency began raising over $ 24,000. BTC broke $ 25,000, $ 26,000, $ 27,000 and $ 27,500. Investors are wondering the reason for the rally in BTC, which has continued its rise.
Blockstream CEO Adam Back emphasizes that the catalyst for Bitcoin to reach these highs is not from institutional investors, but from individual investors. According to the Blockstream CEO, the triggers for the latest rally are individual investors, as they are the only users on keyboards on Christmas Day. However, all experts agree that it was institutional investors who started the BTC rally after it began buying large amounts of Bitcoin throughout 2020.
Bitcoin balance on exchanges continues to fall
Among investors who buy BTC, MicroStrategy and Grayscale in particular attract attention. In addition, payment giant PayPal has allowed its users to buy and sell cryptocurrencies. By using PayPal, investors will be able to use the best cryptocurrencies in 2021 – “Bitcoin, Ethereum, Bitcoin Cash, etc.”they will be able to buy and sell. Also, as we reported earlier as cryptocoin, Bitcoin has reached another important milestone, surpassing the market value of payment giant Visa.
Danny Scott, founder and CEO of CoinCorner Exchange, shared data last week showing that bitcoin balances on exchanges continue to fall. Despite Bitcoin breaking the $ 27,000 level, people are holding their BTC and refusing to sell it. Currently, the BTC balance on the exchanges has hit an annual low. In his earlier remarks, Danny Scott had warned several times that a Bitcoin liquidity crisis was coming.