Over the past year, bitcoin has several times failed, trying to stay above $10 000. This time things could be different, writes Coindesk, citing data from the company on a blockchain analysis Chainalysis.
According to the Intel Market, the influx of bitcoins in stock exchanges on July 27, increased from 68 to 130 970 BTC BTC 039 (the largest daily increase in over 134 days) with rapid growth rates. Investors tend to send the bitcoins to the exchange, when they lack confidence in the rally or resources for long-term storage of coins and they want to cash out their investments.
It can be argued that exchanges have an additional suggestion. On the other hand, the pressure of the buyers, presented by the influx of popular stablon Tether (USDT), also increased.
The influx of Tether 27 Jul rose from $440 million to $726 million “the Demand for bitcoin was released to the stock exchange in the amount of $726 million to balance the sale of BTC to $1.3 billion,” said Philip Gradwell, chief economist Chainalysis.
Even though the foreign tablconv less than the inflow of bitcoins, there are other ways to purchase cryptocurrencies. “Will also be used Fiat, so we can assume that this rally has momentum,” wrote Gladwell.
Thus, the pressure buyers can be strong enough to absorb the additional proposal, which comes on the stock exchange, and bitcoin will rise above $10 000.