Still long term bullish based on all shown in chart. Between $7400 and $8000 is good for accumulation with 1 year or greater time horizon (although we could see a double up pre-halving). We are going to grind along here for a month in my opinion.
Bullish News
-Galaxy Digital starting two Bitcoin funds in November 2019 with $25k minimum to open (incoming liquidity).
-Bitcoin used to transfer 18,000 BTC ($143 Million) for $3.55. Banks charge between 1% and 0.4% for amounts this large. 1% of $143 Million = $1,430,000 not $3.55.
-If BTC is not a “store of value” why is one wallet with only 3 recorded transactions holding $143 Million in cold storage off exchange?
Answer – Because that person or entity is smart enough to save over $1 Million in transfer fees alone (at today’s rate).
Sources
www.coindesk.com/gal...in-funds-in-november
beincrypto.com/134m-...ved-between-wallets/
Bullish News
-Galaxy Digital starting two Bitcoin funds in November 2019 with $25k minimum to open (incoming liquidity).
-Bitcoin used to transfer 18,000 BTC ($143 Million) for $3.55. Banks charge between 1% and 0.4% for amounts this large. 1% of $143 Million = $1,430,000 not $3.55.
-If BTC is not a “store of value” why is one wallet with only 3 recorded transactions holding $143 Million in cold storage off exchange?
Answer – Because that person or entity is smart enough to save over $1 Million in transfer fees alone (at today’s rate).
Sources
www.coindesk.com/gal...in-funds-in-november
beincrypto.com/134m-...ved-between-wallets/