Up or Down, People Hodl

[crypto1010]

By analyzing the Celsius smart contract, it is possible to see hodlers in action. Regardless of which direction the price moves, deposits have exceeded withdrawals.

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[20kevin20]

Doesn't it actually mean the opposite? If there are more deposits than withdrawals, it means more people are putting their BTC on an exchange than those who are withdrawing into their personal wallets. I see it this way, maybe my perspective is wrong.

[rexxarofmoknathal]

It's definitely important to work up the balls to hold now more than ever.

Bitcoin was designed to withstand the global recession and we are definitely on the brink of one. I wouldn't be surprised if this one is even worse than the great depression.

The halving is also just around the corner.

The writing is literally on the wall people, buy bitcoin and either trade or hold! Make sure you hold for at least a year no matter what.

[jossiel]

The writing is literally on the wall people, buy bitcoin and either trade or hold! Make sure you hold for at least a year no matter what.

Trade for those scalpers.

They get profit for expenses and then retrieve the initial capital that they have in bitcoin.

The halving does really matter in these occasions. They don't want to be left by the possible up that it will bring to the market as an aftershock. I'm already hearing negative people about the halving and it won't be the same as the past but just to be sure, HODL is the best position today.

[casperBGD]

Doesn't it actually mean the opposite? If there are more deposits than withdrawals, it means more people are putting their BTC on an exchange than those who are withdrawing into their personal wallets. I see it this way, maybe my perspective is wrong.

agree, it is the quantity that is transferred to exchange higher than that hold in personal wallets, seems that people are looking to trade their BTC, not to hodl it long term, maybe celsius have something different in mind with these numbers, but then it should be noted in an image what deposits/withdrawals mean

[tsaroz]

Increase in activity is always a good signal for market. People withdrawing from Celsius might have different purpose that includes cashing out as well as holding them in safe place while people depositing are doing so for long term. They are either new investors or believes banks would perform bad and Celsius is the only place where they'll get decent interest on their savings.

[Balladtony77]

What do you expect? Halving is around the corner so I expect more buy orders on exchanges from now on, Bitcoin is the best and it was designed to withstand recession times like we are in right now

[skarais]

Doesn't it actually mean the opposite? If there are more deposits than withdrawals, it means more people are putting their BTC on an exchange than those who are withdrawing into their personal wallets. I see it this way, maybe my perspective is wrong.

No, you are right. For a trader who is active on the exchange, I think they would prefer not to keep their BTC in a personal wallet assuming they can always control the risk that price movements might pose.

while people depositing are doing so for long term.

I am not sure an investor will keep their assets in exchange for a long time in hopes of earning interest. This action is very unsafe and also not recommended.

[BlacksmithCorporation]

I'm not sure what you said is positive but looking at the chart can see the number of BTC withdrawals and deposits over time, BTC is getting more attention?

[mersal]

Number of withdrawals and deposit has no relation with number of people holding it, even if the trading activity increase the rate of deposit and withdrawal gets increases.But the thing is right no matter of what people will still hold their cryptos in ups and down, but there are only very few people with that kind of enthusiasm towards cryptos.

[InwardContour]

By analyzing the Celsius smart contract, it is possible to see hodlers in action. Regardless of which direction the price moves, deposits have exceeded withdrawals.

Holding is not bad but at least you hold for long term with a proper strategy, not just holding and waiting for moon. For example, 30% of BTC in my portfolio is for long term holding while I trade the rest. I can't just be watching coins on my portfolio go up and down without making profit, since I'm a real time trader. However, I'm not castigating those who just hold for holding sake, we all must not have similar motives. If there are more holders, it's good for the overral market anyway.

[lobo13hf]

What do you expect? Halving is around the corner so I expect more buy orders on exchanges from now on, Bitcoin is the best and it was designed to withstand recession times like we are in right now

I didn't expect a lot from the halving caused by the covid is still there and there was no reason for people to hype bitcoin again. i may think crypto will always be stable like this until the end of this pandemic.
He said just hodl in any situation but some people may think if they can make some bucks from the market and why not?

[danherbias07]

Deposits in exchange?
I have the same question as kevin up there.
It seems like it had not been answered yet.

If those are exchange deposits then we could say those trading advertisements in Youtube are working. 
That means only profit for them.

[cytpoway121]

I think this is the true situation of things.
Either its a bull run or a bear run; people hodl, people dump, people sell and people take profit.

What matters is our individualistic activity on the market, and its all that matters.

Always do your own research

[Rengga Jati]

-snip

From these data, we can see a very significant increase in one year's vulnerability. From Q1 of 2019 to Q1 of 2020, the numbers show a 10-times increase. Is this great progress, isn't this? This proves that the trend of Bitcoin is getting bigger and bigger. More and more numbers of BTC and people involved in it, both deposits and withdrawals.

Regardless of which direction the price moves, deposits have exceeded withdrawals.

And in my opinion, the amount of the deposit that is bigger than the withdrawal is good news. This means that more and more BTC are deposited. And of course this means that BTC is indeed a worthy coin of long-term hold and investment. Of course, especially when Bitcoin halving will happen soon. This might also be one reason.

[Tigboom]

It's simply not yet time for people to take profit . They want to wait as we move closer to Bitcoin halving. I think that's what is playing out now.

[Metall303]

I think that very soon we will see changes. In the first quarter of 2020, people withdraw their money very actively because there was a fall in financial markets. people sold because they expected a panic, but the panic has not begun yet. most likely in the second quarter, we will see that there will be more deposits than withdraws.

[Kelvinid]

Holding should really be matter this time. The chart shows how people become motivated and being positive for the halving that even brought them to hold and wait for the moment that their sell order will be filled. This will also show that there is a huge number of people that are trusting the crypto market to recover than being a weak hand. It looks like we can't able to see the market to drop hard again if the resistance will remain that strong.

[Bitstar_coin]

Doesn't it actually mean the opposite? If there are more deposits than withdrawals, it means more people are putting their BTC on an exchange than those who are withdrawing into their personal wallets. I see it this way, maybe my perspective is wrong.

perspectives! While its not certain to determine the fate of the market in the near future , one thing is certain, more people are learning the trade now and often tend to deposit more for trading and other purposes in exchanges which is a good thing. The more people learn about crypto, the more they buy btw and deposits will increase as depicted in 2017 which was a year of boom

[Psynthax]

Doesn't it actually mean the opposite? If there are more deposits than withdrawals, it means more people are putting their BTC on an exchange than those who are withdrawing into their personal wallets. I see it this way, maybe my perspective is wrong.

That's true and remember there was a lot of bitcoin comes from the tokenplus too. it looks like the bitcoin that has already sent to the exchange site is getting sold by the sender.
That means it was having the opposite trend. Your perspective is not wrong. That's the fact.