THELOGICALINDIAN - The capitulatory attempt that Bitcoin took on March 12th was celebrated with the cryptocurrency crumbling from highs of over 8000 to lows of 3800 over a amount of bald hours a day that will now alive in crypto abomination as Black Thursday
The amount activity apparent afterward this selloff, however, seems to brighten the backbone of the agenda asset, alike arch one analyst to go as far to say that it makes Bitcoin the “most airy asset in the world.”
This apparent animation may be active an advancing affairs aberration that Bitcoin investors are currently affianced in, as abstracts suggests that BTC holders are accumulating at a accelerated rate.
Bitcoin Holders Enter Full-Fledged Accumulation Mode
According to contempo abstracts from blockchain analysis belvedere Glassnode, Bitcoin investors are now accumulating the cryptocurrency at an aberrant rate.
While attractive appear their “Hodler Net Position Change” indicator, it appears that investors are accretion their BTC exposure at the fastest ante apparent this year.
This seems to announce that investors are growing increasingly optimistic on the cryptocurrency – a abnormality that may be abiding in the acute uptrend Bitcoin has apparent in the time back this contempo decline.
BTC’s Recovery from Recent Lows Boosts Investor Sentiment
Bitcoin has apparent a notable uptrend in the time afterward this decline, ascent to post-crash highs today of $7,800.
The acknowledgment to this abatement adjoin a accomplishments of all-around bread-and-butter turbulence has led Luke Martin – a admired cryptocurrency analyst – to explain that this move has accepted BTC’s cachet as “the best airy asset in the world.”
This buying frenzy will acceptable be added perpetuated by the awful bullish amount activity apparent today, which could accomplish a faculty of “fomo” amidst investors.
