Bullish Mobility in Bitcoin Market Following China Campaign

0

Analyst Cole Garner stated in his Twitter post that there was a big increase in new Bitcoin (BTC) addresses after the campaign carried out by China. He stated that this increase is at its highest level in the last two years and there may be a bull movement in the future.

According to data shared by analyst Cole Garner, 22,000 new BTC wallets were created in one day. Suggesting that this increase in volume could turn into a price gain in the future, Garner stated that based on the data he received from Glassnode, an analytical data monitoring resource, 22,000 new Bitcoin assets are well above the normal levels, which are between 5,000 and 10,000 daily on average. Saying that the increase in volume comes just before the rise in price, Garner stated that the new addresses are the pioneers of the market rise.

Including the views of statistician Willy Woo, Garner quoted the tweet that Woo interpreted this development as “bullish”, which has not yet been reflected in the price.

Chinese Media Has a Share in Bitcoin Mobility

Although the source of the new BTC addresses cannot be determined with certainty, Garner points to the Chinese media as the source of the increase. In the campaign launched by the Chinese Government last week, it was aimed to direct Chinese retail companies to crypto money.

Analyst Cole Garner also included Primitive Ventures co-founder Dovey Wan’s comment on the Chinese Government’s crypto campaign. Dovey Wan stated that the media work carried out by the government for the widespread use of cryptocurrency has a successful coordination.

See Also
Investments in Bitcoin Markets Raise ATV Rate

LEAVE A REPLY

Please enter your comment!
Please enter your name here