Bitcoin’s withdrawals from the exchanges by whales give a clue about the price increase in July

 

Bitcoin Investors (BTC) should buy BTC when whales do a particular thing, the bull runs start several months later.

That was the latest information from Ki Young Ju, CEO of CryptoQuant, who revealed that when the whales remove Bitcoin from the exchanges, it is time to enter the market.

Analyst: Buy BTC before the whales‘ cycle is over

Uploading two graphs comparing the 2017 and 2019 Bitcoin increases, Ki noted that the start of each upward trend came four months after a peak in whale withdrawals.

The data came via CryptoQuant’s seven-day moving average metric of whale removals.

„BUY #BTC when whales send bitcoins out of the exchange,“ he summarized in Twitter comments.

„The ALCISTA market usually begins four months after the average exchange withdrawal reaches its peak for the year.“

The lead could be very timely, coming three months after Bitcoin’s last annual withdrawal peak in March. If the trend repeats, amid a number of other encouraging signs for BTC, a bullish market should start in July.

 

Bullish Trend Factors Converge for Bitcoin

As Cointelegraph reported, other metrics also suggest that Bitcoin Rejoin is bouncing back from a price pool. Remarkably, trading reserves are now near their lowest point since December 2018, when the BTC/USD pair was trading at $3,100.

The miners are also selling less BTC, having briefly sold more than they earned after May’s halving.

More generally, investors have spent 2020 accumulating BTC, with 90% of the days seeing net asset increases.

Last week, Ki described how whales tended to wait for quiet periods in exchanges to sell currencies, potentially to attract investors‘ attention to their shares.

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Mo Jul 6 , 2020
  Bitcoin Investors (BTC) should buy BTC when whales do a particular thing, the bull runs start several months later. That was the latest information from Ki Young Ju, CEO of CryptoQuant, who revealed that when the whales remove Bitcoin from the exchanges, it is time to enter the market. […]

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