CryptoQuant CEO says Coinbase Bitcoin outflows are a ‘bullish signal’

February 2, 2021February 16, 2021 Jeannine Cruz Bitcoin, BTC, Coinbase, CryptoQuant

Current Bitcoin (BTC) outflows from Coinbase are reminiscent of the “proof-of-keys” days and could be an indication of a bullish future, according to CryptoQuant CEO Ki Young Ju.Data from the cryptocurrency analysis company shows that more than 15,200 BTC, currently worth over $515 million, were withdrawn from Coinbase on Jan. 31. He also pointed to the truth that the split of a 15,000 BTC wallet into wallets containing 1,000-5,000 BTC increases security expenses. While the media were pointing to Bitcoins price drop from $42,000 to below $30,000 as a sign that the BTC bubble had popped as soon as again, the purchase of 4,000 BTC on Feb. 1 indicates that organizations have instead seen this as a chance to buy the dip and are taking complete benefit of this buying opportunity.

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Jeannine Cruz

Jeannine Cruz– Earnings I am known as Jeannine Cruz, I am a writer and an industrialist by profession. My age is 32 years. My aim is to gather the attention of the targeted audience without being boring and unexciting. I like to utilize the free time in writing my views and thoughts for my book lovers or readers. My most preferred articles are usually about finance and business; however, I have written various topics in my articles. I do not have a specific genre. I get very creative when I have to express myself, I often sing, write or draw to portray my feelings. When it comes to my free time or you can say ‘ME-TIME’, I love to play with my cat, sleep an extra hour, or play my favorite video games.