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Bitcoin Price Has Yet To Catch Up to These ‘Crazy Strong’ Fundamentals, Says InvestAnswers

Most Dogecoin Holders Are in Profit While Majority of Shiba Inu Owners Remain Underwater: IntoTheBlock

A popular crypto analyst thinks Bitcoin’s (BTC) price hasn’t yet caught up with its “out-of-control” fundamentals.

In a new YouTube video, the anonymous host of InvestAnswers tells his 444,000 subscribers that Bitcoin’s fundamental metrics are all going up except for BTC’s supply on exchanges, which is going down.

Large amounts of Bitcoin outflowing from exchanges can indicate a bullish period as deep-pocketed investors accumulate the top digital asset.

The InvestAnswers host notes long-term holder supply is going up, with roughly 14.5 million Bitcoin sitting in that category now.

“Then we have addresses with a balance greater than one Bitcoin — over 1 million. Of course, many people have five wallets or more, so that doesn’t mean there are a million whole-coiners, ladies and gentlemen. There’ll never be more than 330,000 whole-coiners. But that is just an interesting stat to look at too. 

And the supply last active over one year-plus, again, up and to the right. So the fundamentals are crazy strong. Bitcoin’s price still has yet to catch up to reflect what’s exactly going on here when you compare these charts to traditional situations.” 

BTC is trading at $26,436 at time of writing. The top-ranked crypto asset by market cap is down more than 2.6% in the past 24 hours.


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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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