{"id":106870,"date":"2021-01-02T12:42:56","date_gmt":"2021-01-02T12:42:56","guid":{"rendered":"https:\/\/precoinnews.com\/?p=106870"},"modified":"2021-01-02T12:42:56","modified_gmt":"2021-01-02T12:42:56","slug":"bitcoin-almost-breaks-30k-as-btc-outflows-from-coinbase-pro-keep-increasing","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-almost-breaks-30k-as-btc-outflows-from-coinbase-pro-keep-increasing\/","title":{"rendered":"Bitcoin Almost Breaks $30K As BTC Outflows From Coinbase Pro Keep Increasing"},"content":{"rendered":"<p>At 09:50 UTC on Saturday (January 2), on Coinbase, Bitcoin\u2019s price reached $29,938, which is a new all-time high (ATH), coming within just $62 of breaking the psychologically important$30,000 level.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/cryptoglobe.s3.eu-west-2.amazonaws.com\/2021\/01\/TV-Chart-BTCUSD-on-Coinbase-One-Day-2-Jan-2021-1-1280x716.png\"><\/p>\n<p>Currently (as of 10:13 UTC on January 2), Bitcoin is trading at $29,751, up 1.41% in the past 24-hour period and up 2.85% in 2021.<\/p>\n<p>According to data by CryptoCompare, Bitcoin\u2019s market cap is roughly $553 billion at the moment.<\/p>\n<p>Here are a few interesting Bitcoin metrics by crypto analytics firm\u00a0IntoTheBlock:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/cryptoglobe.s3.eu-west-2.amazonaws.com\/2021\/01\/ITB-Token-Summary-for-BTC-on-2-Jan-2021.png\"><\/p>\n<p>On Thursday (December 31), the day that Bitcoin managed to get as high as around $29,300, Cameron Winklevoss, Co-Founder and President of crypto exchange Gemini, said that it was time for Bitcoin to break the $30,000 level, and as we have seen so far today, it looks like Bitcoin is very close to doing just that.<\/p>\n<p>Later that, Michael Saylor, Co-Founder, Chairman, and CEO of\u00a0Nasdaq-listed business intelligence company\u00a0MicroStrategy Inc., compared being a Bitcoiner to having a place to live in a super exclusive city in cyberspace. <\/p>\n<p>Popular crypto analyst and trader\u00a0Alex Kr\u00fcger explained yesterday (January 1) why he believes that it is inevitable that the world\u2019s major central banks will eventually hold BTC as a reserve asset. <\/p>\n<p>On the same day, Ryan Selkis, Co-Founder and CEO of Messari, said that he believes now that Bitcoin is almost at $30K, the idea of the Bitcoin price one day reaching $1 million seems a lot more feasible than the idea of the Bitcoin price reaching $30K back in those days when the price was $1000.<\/p>\n<p>In case you are are wondering why the Bitcoin price keeps going up, despite the price setting new all-time highs almost every day, Ki Young Ju, the\u00a0CEO\u00a0of South Korean blockchain analytics startup\u00a0CryptoQuant, seems to believe that it could be due to continual BTC accumulation via OTC desks. <\/p>\n<p>As the CryptoQuant CEO explained on December 18, although it is not possible to get reliable transaction data from OTC desks, we can use on-chain metrics, such as BTC outflows from Coinbase Pro, to estimate OTC deals.<\/p>\n<p><em>Featured\u00a0Image\u00a0by\u00a0\u201cSnapLaunch\u201d\u00a0via\u00a0Pixabay.com<\/em><\/p>\n<p><em>The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.<\/em><\/p>\n<p>Source: <a href=\"https:\/\/www.cryptoglobe.com\/latest\/2021\/01\/bitcoin-almost-breaks-30k-as-btc-outflows-from-coinbase-pro-keep-increasing\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>At 09:50 UTC on Saturday (January 2),<\/p>\n","protected":false},"author":3,"featured_media":106869,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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