Can BTC Break 12k

by | Jul 11, 2020 | BTC

On-chain exchange activity exploded during Bitcoin’s recent breakoutseemingly confirming the legitimacy of the price momentum.

Listen to article Bitcoin’s recent breakout was accompanied by a massive spike in on-chain exchange volume activityaccording to data from Glassnode.

Unlike regular trading volume that is often artificially inflated by the exchangeson-chain activity may be more indicative of the true patterns.

Interestinglythe only metric that experienced a downward trend is the number of exchange deposits.

The data for the previous week indicates a major spike in off-chain trading volume as well.

The BTC/USD pair saw a 70increase in its biggest bounce since AprilDAI/USDT spiked by over 700in the same time period.

Bloomberg believes that the fundamentals indicate that Bitcoin will surpass $12,000 this yearif not higher.

With the massive push coming over the last 24 hourssome began to speculate whether Bitcoin can break its all-time high of $20,000.

RESOURCES

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

Pin It on Pinterest

Share This