48K BITCOIN MOVED OFF COINBASE PRO YESTERDAY, LET’S CHAT!

I saw some news yesterday about Bitcoin that made me think back over the last couple of months as BTC has been really quiet (over the last 3 months or so). What I mean by that is that its volatility has been rather quiet. The price fluctuated for sure, but it was within a very narrow margin. It really wasn’t swinging all the way to the $60Ks and swinging back down to $19K. the margin was pretty narrow.

CNBC (the cable business news channel) is reporting that approximately 48K BTC moved off Coinbase Pro yesterday! That’s a lot of BTC! They also said: “The outflow was the biggest among crypto exchanges since crypto’s big crash in June of this year and the second-largest of all time. Exchange outflows suggest investors are withdrawing their crypto from exchanges and shifting from selling mode to accumulating mode.”

Whoa! “Accumulating mode.” Now that… is verrrrry interesting! So investors aren’t selling (which makes sense because the prices aren’t favorable); instead, they are holding their digital assets in crypto wallets and not leaving them on Coinbase for an easy sell. 🤔 That tells me that they know something that we don’t yet know. But! We have the Holy Spirit Who leads and guides us!🙌🏾

In the middle of all of that, I’ve seen that institutional adoption of BTC is still increasing. Blackrock is partnering with Coinbase, Google is partnering with Coinbase, and Mastercard is helping banks to offer crypto trading (see yesterday’s blogpost). Add the whole Web3 platform to all of that (Web 3.0 is the third generation of the world wide web) and you’ll see that the digital asset pot is being stirred!🙏🏿

All of this is good for digital assets, but I know that there‘s still pressure coming against BTC. What I can tell about investors is that they seem to be cautiously optimistic about the continued positive momentum that’s barely beneath the surface.🤷🏾‍♀️ I am staying in faith concerning BTC and cryptocurrency in general. I do believe a lot of coins will disappear after a while, but not BTC!😜

See you tomorrow! 🤎

Copyright ©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™. The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestions in this post.