Last May was very active for Bitcoin, and many traders who benefited from this mobility have significantly increased the value of their assets.
According to the latest data from the markets, it is observed that investors have escaped from the exchanges, especially in the last few weeks. Due to investors who prefer to withdraw from exchanges and keep their assets in their own wallets, the total reserve decreased to 1.36 million BTC. The low level of reserves in the stock exchanges last took place in the first quarter of 2019, and then the rise of Bitcoin started.
What is the reason for the decrease in reserves?
On the 12th of March, when the price of crypto was referred to as “Black Thursday” and the price of Bitcoin was severely depreciated, many BTCs changed hands and their new owners left these Bitcoins out of the stock market.
Traders and analysts speculate the holding, while data similarly confirms the rise in holding activities. According to the data provided by Bitinfocharts, the Bitcoin rich list increased by 21% in a year.
For example, while 2.405 BTC was included in May 2019 in the range of 0-0.001 above, it increased to 2.911 BTC in May 2020, which is a proof that users are increasingly holding digital assets.
Another reason for this trend may indicate Bitcoin as a price increase expectation as a result of the recent Bitcoin half event.
At the time of writing, Bitcoin is trading at $ 9,428.