Home 2022 Crypto’s Next Wave North

Crypto’s Next Wave North

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#crypto #adoption #transparency #onchain #traders #investors #bitcoin

$BTCUSD $KNIGHTSUSD

Crypto influencer Anthony Pompliano unveils a feature of Bitcoin that he believes will drive the next wave of its adoption”–Paul Ebeling

In the new episode of the Best Business Show, Pompliano tells his 379,000 YouTube subscribers that the transparency of Bitcoin’s on-chain data will attract more BTC investors and traders.

“On-chain [data] is not some magical indicator. It doesn’t tell us the future. But what it does do is it opens up in a transparent way exactly what’s already happening on-chain.

This data is available in the Bitcoin market. It’s like getting an earnings report every single day on the Bitcoin network.

The Wall Street investors are going to open their eyes and start to realize that on-chain metrics are incredibly important. And as they begin to realize they have more information and more transparency in this industry, you’re going to see more and more investors, more and more traders, start to come into the market.”

The Bitcoin Bull also says that on-chain data reveals that more than half of BTC’s supply has not moved in 12 months, suggesting that investors are willing to hold the King crypto for the long haul.

“My favorite metric though is that 64.5% of Bitcoin hasn’t moved in a year. This market’s illiquid, and it’s going to take a catalyst of demand to drive the price higher. Where that comes from, I don’t know and neither do most people, but when it comes, as we’ve seen many many times before, Bitcoin moves fast once it gets going.”

Popular on-chain analyst Willy Woo is also keeping a close watch on the falling supply of BTC available on crypto exchanges. According to Woo, BTC is gearing up for a supply shock squeeze similar to what happened in Q-4 of Y 2020.

“Bitcoin price is sideways because Wall St is selling futures contract in a macro risk-off trade. Meanwhile, institutional money is scooping spot BTC at peak rates and moving to cold storage.

It’s times like these I remember the Q4 2020 supply shock squeeze.”

Have a prosperous day, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.