×
×
Cryptocurrencies:  7,509Markets:  31,658Market Cap:  $390,521,686,85324h Vol:  $99,620,754,979BTC Dominance:  61.6%
Market Cap:  $390,521,686,85324h Vol:  $99,620,754,979BTC Dominance:  61.6%Cryptocurrencies:  7,509Markets:  31,658

4 Crucial On-Chain Trends Show That Bitcoin’s Trend Is Bullish

4 Crucial On-Chain Trends Show That Bitcoin’s Trend Is Bullish

Share

4 Crucial On-Chain Trends Show That Bitcoin’s Trend Is Bullish

Bitcoinist1 week ago
Published on October 18, 2020 07:00 GMT+0edited on October 18, 2020 07:07 GMT+0

Share

  • Bitcoin has dropped over the past few days after news revealed that OKEx had frozen withdrawals.
  • The price of the leading cryptocurrency slipped from $11,750 to $11,450 where it is now.
  • The leading cryptocurrency is primed to appreciate in the long run despite short-term weakness.
  • One crypto-asset analyst noted that there is a confluence of on-chain trends showing Bitcoin is bullish.
  • Four of those metrics are as follows.

Bitcoin’s On-Chain Trends Are Bullish, Data Shows

Citing data from blockchain analytics firm CryptoQuant, a crypto-asset analyst thinks that Bitcoin remains in a macro bull trend. He recently shared a confluence of on-chain trends showing why this is the case. Four of these trends are as follows:

  • The “exchange whale ratio,” which tracks how much …