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Analytical service CryptoQuant reported that it has recorded a record outflow of bitcoins from cryptocurrency exchanges since the fall of 2021. According to experts, on January 11, 2022, users withdrew 29,371 BTC ($ 1.27 billion) from key trading platforms in the world. This is the highest rate since September 10, 2021.
Analysts have linked what is happening with the unstable situation in the cryptocurrency industry. Traders and investors don’t know how to deal with their assets. They prefer not to take risks when trading the market. The specialists also noted that the maximum churn over the past 4 months fell on the day when there was a short-term rebound in the Bitcoin rate above $ 42,000. This may indicate the optimism of market participants.
Sector analysts have expressed differing opinions on social media. Many supported the point of view that the outflow of funds means the desire to keep virtual assets at home. This may be a sign of the expectation of further growth in the rate of digital gold.
Others said that it is impossible to predict the market movement because it is unpredictable. Cryptocurrencies demonstrate that things could change tomorrow. Blockstream CEO Samson Moe expressed confidence that the community has recently witnessed a global downward movement in price and now it will only go up.
Earlier, the editorial staff of Crypto.ru reported that 95% of JP Morgan Chase & Co clients do not believe that the Bitcoin cryptocurrency will be able to reach the $ 100,000 mark by the end of this year. Most of them believed that the price of the virtual asset would reach a maximum of $ 60,000. Only one of the institutional investors expressed confidence that the price of digital gold will increase significantly within 1 year. Analysts said the sentiment described the market situation well.
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