The active supply of Bitcoin (BTC) has reached a 19-month Low point in more than one million Bitcoin. And by looking at this, most BTC investors will begin to question what this means for the future price of the main crypto?
Achieving this Low point could signal the potential for a strong price increase.
Active supply showed a sharp increase earlier this year with a 16% increase in less than three weeks to more than 1.3 million Bitcoin.
Looking at the 90-day moving average over the past three years, the sharp rise pattern has been followed by Pullback which is almost the same as seen twice before, both formed just before a strong price increase occurred!
So, the decline in active supply shows that there are more users holding (holding) their Bitcoin than trading it.
And at the beginning of this month, the active Bitcoin address has risen sharply, it has reached the highest level of one year before retreating for the past two weeks.
Once again, before this pattern was seen before the rise in 2017 and the strong rise in prices in Q1 2019.
It can be concluded if this effort is the existence of market confidence (from the psychological side) that prices will still be able to rise so that the HODL attitude is preferred which makes the active supply of BTC continue to be depressed to reach the 19-month Low level which is also due to lack of trade volatility.
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