Up or Down, People Hodl

[meanwords]

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.

You actually make sense than the OP stated. Because from the looks of it, people are depositing Bitcoin to trade it rather than Hold it or most likely that people hold their Bitcoin in exchanges which is pretty stupid. It doesn't say much if whether people dump Bitcoin to USD or other altcoins though.

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[maxreish]

More deposits than withdrawals.
This just means people are now putting their money and taking the risk for holding bitcoin as their investments. It only shows that their is a massive increased of btc holdings and people tend know better about it. Regardless of the market unstable features, hold is still the best option. Is the data gathered from all of the crypto exchanges?

[TheUltraElite]

Well the Celsius networks job is different here. They give out loans for altcoin as collateral. Obviously they have their own propaganda here.

While some people are in a money-lacking situation currently some are having a store of money slowly being spent for their need.

The bad thing that I feel about brokers is that they dont care about people's lives. They only care about their methods of using situation and circumstances to make money. A good demonstration was the movie "The Wolf Of Wall Street" - recommend it to everyone here who is 18+  

Again if MakerDAO and Celsius are working together then it is better to stay away from these news because how far it is truthful is questionable. They are trying to make people spend their hoarded money into taking loans from them and wasting it on options and margin trading.

[jessyj48]

Now is the best time to HODL, Bitcoin halving is coming in hot even some don't believe that the halving will be like what we've seen in the past but who can tell? The only way to find out is to HODL

[Smitty Werben Man Jensen]

Now is the best time to HODL, Bitcoin halving is coming in hot even some don't believe that the halving will be like what we've seen in the past but who can tell? The only way to find out is to HODL

if you can afford to HOLD I think that's good, but if you can't afford to take risks, you can sell Bitcoin at the highest price,
maybe before Halving will go to $ 8000, as in the case of BCH, the price of BCH also increases before halving, and after that price drops to support

[Ken_terrance]

Don't get your hopes up too much about halving, after it become a success Bitcoin value will drop again, untill further notice, future movement then maybe things will take a new turn, my plan is to keep holding since I don't need much money now, I can hold till coming year 2021

[Inkdatar]

Don't get your hopes up too much about halving, after it become a success Bitcoin value will drop again, untill further notice, future movement then maybe things will take a new turn, my plan is to keep holding since I don't need much money now, I can hold till coming year 2021

We cannot stop others from having a high hopes about this halving event. More deposits than withdrawal this means people are into bitcoin. Whatever the outcomes of bitcoin whether the price to be up or down, up to this date I am still holding bitcoin.

[suryapro]

unstable prices make it difficult for users to determine. whether we will hold it or just let it go. this is really difficult. but don't worry. if people still have faith in bitcoin, everything will be fine

[skeleto88]

Look at each years graph, Definitely 2017 was the year where bitcoin went to its pick and then gradually fell back each in every succeeding years especially in 2020 the time we are experciencing market melt down due to corona virus pandemic. Many investors or traders have pulled back their assets in order to avoid more losses or they use it for financial consumption.

[20kevin20]

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

Well, from the chart in the OP it looks like people tend to move their BTC to exchanges and buy alts/fiat with them which makes the withdrawals not count as BTC ones. If there are lots of deposits and less withdrawals, it means they're withdrawing something other than BTC.

On the other hand, there's one thing we do not take into account: the fact that a lot of people are holding most of their funds on exchanges instead of personal wallets. I've seen people on BitcoinTalk use their exchange wallet as signature campaign payout addresses.

[WeedGoW]

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?

More like the having is around the corner so people instead of letting their coin sitting at dust, start to move it around to anticipant the having.

[Emilyearl]

Majority of cryptocurrency users are not traders. Most have only one knowledge of buying for the long term. I had such orientation when I came in new, my friends told me to buy Btc as much as I can and hodl, to an extent it did me no good because I got rekt which led to my unending hodl.

[target]

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

Well, from the chart in the OP it looks like people tend to move their BTC to exchanges and buy alts/fiat with them which makes the withdrawals not count as BTC ones. If there are lots of deposits and less withdrawals, it means they're withdrawing something other than BTC.

On the other hand, there's one thing we do not take into account: the fact that a lot of people are holding most of their funds on exchanges instead of personal wallets. I've seen people on BitcoinTalk use their exchange wallet as signature campaign payout addresses.

Could it mean that there are more users who deposited their BTC to exchanges, there are more who panicked and their coins were now bought by top dogs?  In Q3 they hurry to dump to the exchange, it seem they knew it's going to dive below 7k. Now Q2 2020, they up to buy again.

[Bukata]

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

In business the strong hearted one's succeed, I'm not surprised with the deposits in exchanges, BTC won't remain low forever and If it breaks and bull, those depositors will have their smile

[milesfull]

Good news for the industry, people believe in it in any situation. Fresh money is always useful

[minairia3]

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.

I dont think so. Even with halving is near people tendency is to trade. Like what OP said, why more funds going out from their wallet? It doesnt make sense. If your a holder then likely you will keep it on your wallet instead sending it to the exchange. You are getting the wrong Idea and it simply means we arent doing any better. This is actually a nervous breakdown scenario where people instead of holding are just panicking and eventually will sell once they feel that the market is going down badly.

Well based from the gun chart I assume we are heading to a more collision zone where funds will be liquidated.

[bitgolden]

Maybe there was something out of ordinary for 2017 that we do not hear about or know about that caused all of that and right now we are back before any of this happened? If you remove the 2017 spike out of the way, we are talking about bitcoin moving from 700-1000 dollars range to 7000 dollars range in 3 or so years, that means we are talking about a great but believable and understandable increase.

There has to be a lot of stuff that made x7 profits in the past 3 years if you put your money into it, not common I know but there must be a lot more than things that did x20 and dropped to x3 and went to x14 and dropped to x7 all over and over again like crazy. So I think if you hold enough, except the weird moments at 2017, we would be in profit almost all the time.

[masterrex]

Is that data is accurate? If yes, let us compare the market movement in the first quarter of 2020. as we can see, the withdrawals and deposit ratio was already near equal but still more deposits than withdrawal in terms of volume, people still hold, compared to last quarter of 2019, but I'm not wondering why the statistics are pointing out that gap? because it is the time that the COVID-19 pandemic was already wreaking havoc around the world. that was triggered a massive sell-off and then who's still holding, whales?

[onrise]

Majority of cryptocurrency users are not traders. Most have only one knowledge of buying for the long term. I had such orientation when I came in new, my friends told me to buy Btc as much as I can and hodl, to an extent it did me no good because I got rekt which led to my unending hodl.

One should have couple of strategy and goals which could help you to make short term and long term profit as well. Definitely if you had purchase in high rise market you would end up on losing note more than making profits. So it is said that buy during dips and fear during high rise. But generally people do opposite and then regret later.

[fulled]

Based on data you gave the bitcoin is in good progress, deposit always bigger than withdrawal, but i think many whale is just hodling now, i dont see any big move from whale recently, or maybe i just missing that news