Queen Telegraph said that after the third titration of the Bitcoin block on May 11, users removed 23,540 Bitcoins from online exchanges, explaining that the matter might indicate Originally higher levels of confidence.
It also continues the recent trend for users to move their currencies to portfolios they control, and away from the main central exchanges. In the two months following the Black Thursday, the number of Bitcoin currencies in stock exchanges declined from about 2.635 million to about 2.333 million.
User behavior
One can reasonably assume that users who withdraw funds from exchanges are a bullish sign. If the user intends to sell his Bitcoins in the near future, it may seem unreasonable to transfer the assets out of the stock exchange.
Alternatively, users can transfer their currencies to a wallet that does not provide a custody service for safer long-term storage.
We can see that on March 12 - Black Thursday, exchanges saw one of the largest recorded Bitcoin flows, as users deposited nearly 40,000 currencies in a period of time. 24 hours. The trend was reversed as the price recovered, as users withdrew their assets from the exchanges in large numbers.
Many key metrics on the chain indicate a very healthy Bitcoin network; Currency owners may bet on Bitcoin's rise as a result of the permanent decline in currency production.
