Price analysis 9/30: BTC, ETH, XRP, BCH, BNB, DOT, LINK, BSV, CRO, ADA
Cointelegraph
Published Sep 30, 2020 02:19PM ET
Updated Sep 30, 2020 06:00PM ET
According to data from CryptoQuant, the total amount of Bitcoin (BTC) held in exchange reserves dropped from 2.8 million BTC in October 2019 to 2.4 million. Analysts believe that this steady decline in reserves means retail traders and whales may be accumulating Bitcoin as they expect prices to rise in the future.
Even though Bitcoin is still far below its lifetime highs, if it manages to close Q3 2020 above $10,590, that would be the second-best close in any quarter. Data from Skew shows this would only be behind the Q4 2017 closing price at $13,660.
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Written By: Cointelegraph
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