28.11.2021

Metrics indicate the end of the accumulation stage and the upcoming growth of Bitcoin

Bitcoin is ready for a major price movement, analyst Will Clemente said. On his Twitter (136 thousand subscribers), he published a chart with an indicator, which speaks of a possible imminent exit of the price of the first cryptocurrency from a narrow range. Writes about this RBC Crypto.

Regarding the direction of further movement, the bitcoin rate Clemente wrote that he was optimistic.

According to the analyst, the market is now in the accumulation stage, and large players continue to actively buy the first cryptocurrency.

The market is in the accumulation stage

Clemente noted last week that whale stocks increased by 65,429 BTC.

The analyst added that in the near future, there may be a shortage of supply of bitcoins, since large players often acquire assets for long-term purposes.

Stocks of bitcoin whales have increased

Clemente also stressed that the growth in the number of cryptocurrency users continues. In this case, usually after the market passes the peaks, this number decreases.

Leave a Reply

Your email address will not be published. Required fields are marked *