Coin Bureau’s co-founder and CEO, Nic Puckrin, mentioned that Bitcoin is entering an accumulation phase, indicating that investors may hold onto the asset for the long term. The cryptocurrency executive shared a chart from Glassnode, which displayed the BTC balance on exchanges recently dropping to an all-time low.
Nic Puckrin, the co-founder and CEO of Coin Bureau, believes that Bitcoin is entering an accumulation phase following the recent decrease in BTC balance. The accumulation phase precedes a rebound, which may suggest that a bull market cycle is approaching.
Puckrin revealed that as the foreign exchange balance decreased to all-time lows, the accumulation of BTC is currently ongoing.
Over the past three months, the foreign exchange balance has been declining.
The upcoming weeks will be turbulent.