THELOGICALINDIAN - Stablecoins on Exchanges Are Up and Thats Good for Bitcoin
According to blockchain analytics close Glassnode, the bulk of stablecoin in apportionment and on exchanges about to Bitcoin has remained high.
The close believes that this suggests there is an “increased abeyant for an upwards movement” in the BTC market.
This is because stablecoins deposited on exchanges finer represent appeal for cryptocurrency (most generally Bitcoin or Ethereum).
Adding to this, the cardinal of Bitcoin captivated on exchanges has decreased massively over contempo months. This is in acknowledgment to a cardinal of factors, but an access in authorization accumulation (demand) and a abatement in BTC accumulation should advance to college prices in the advancing months and years.
It isn’t bright how abundant of an aftereffect these on-chain trends will accept on amount action, though.
Jackson Hole Meeting Could Boost BTC Further
Set to addition Bitcoin added is the approaching Jackson Hole appointment for axial banks. This appointment will be digital, of course, but the furnishings of the decisions/discussions at the accident are accepted to be as affecting as ever.
The bazaar is acutely appraisement in the apprehension that Jerome Powell and added axial bankers will ambition college levels of inflation.
Inflation will addition all asset prices. Bitcoin and gold, especially, angle to account from this as they are both apparent as hedges adjoin aggrandizement and hedges adjoin authorization systemic risk.
