Long Term Bitcoin Holders Will Provide New BTC Rally

Glassnode's new weekly report shows that long-term Bitcoin (BTC) holders have reacheda multi-year high, while the market does not demonstrate profit-taking.

Analysts at Glassnode said these long-term holders are exceptionally gaining ground.

During the analysis, time ranges were studied.spent volumes, which are used to determine the "age" of coins that dominate in transfers on the network for a given day. According to Glassnode experts, this indicator can be used to determine the beginning of profit taking or accumulation.

Consecutive spending of coins older than onemonths began in November 2020 and ended between April and May 2021. After peaking at an all-time high in BTC in October, long-term Bitcoin holders have now dropped to 2.5% of daily volume.

«This could be interpreted as long-term holders reducing their spending, that is, increasing their positions rather than exiting them», - commented in Glassnode.

Analysts also indicated that the total volumeshort-term holder supply is at a multi-year low below 3 million BTC, which in turn means that the amount held by long-term holders is at a multi-year high.

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The findings indicate that there are no signs of serious surrender, and the fact that the bulls may face a rather long upward rally.

On November 22, Chinese journalist Colin Wu wrote inTweeted that the number of non-zero addresses also hit a record high. This suggests that implementation and accumulation continues, despite an 18% decline in the asset relative to the peak price in mid-October of 69 thousand dollars.

According to Glassnode, even if the Bitcoin pricehas retraced more than 10% from the high point recently, the number of non-zero addresses on the network is still rising slowly, hitting a new all-time high, breaking through 38.65 million. pic.twitter.com/qvN3c6Dt1O

- Wu Blockchain (@WuBlockchain) November 22, 2021

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Huobi	https://huobi.com	7.4
3	Exmo	https://exmo.me	6.9
4	OKEx	https://okex.com	6.5
5	Bybit	https://bybit.com	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability&#8212; stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Additional features and services&#8212; futures, options, staking, NFT marketplace.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• final grade– the average number of points for all indicators determines the place in the ranking.

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