Altcoins Correction Or Continuation? Bitcoin Too!

hace 5 días

A strong bullish signal is the fact that more and more capital is flowing into the Cryptocurrency market. More and more whales are buying Bitcoin...

Good evening my fellow Cryptocurrency trader, how are you feeling in this wonderful day?

We had a bearish period, a bearish season and in this season most of the whales transactions were composed of Crypto moving in and out of exchanges, mostly in. Large amounts of Bitcoins would be deposited into the exchanges; large amounts of Ether as well, nothing more.

Lately, we see a huge shift in these transactions. We are seeing Crypto leaving the exchanges, big/large chunks and billions of dollars worth of stablecoins being minted everyday and later deposited into varied exchanges.

From March through October 2024, we saw only 1-2 billion worth of USDT being minted on the alerts. Just in November 2024 alone, we have more than 10 billion and the number continues to increase. (Rough numbers.)

We see hundreds of millions worth of stablecoins moving to the exchanges, there is only one way to translate this; the whales are buying.

If the only signal we had were the whales buying we would not be confident enough to say that prices are going up. But we saw the Altcoins hit bottom in August and after months of consolidation they are going up. Bitcoin broke a long-term resistance level after months of consolidation and is also trading near its All-Time High. The billions worth of stablecoins moving into the exchanges is supported by the action on the charts and the pairs/projects price. Everything is going up.

Will it stop?
Correction or continuation?

It is only the beginning.

Thanks a lot for your continued support.

Namaste.