Another day and another large chunk of bitcoin was removed from Coinbase

Like we've seen several times recently, there was another major withdrawal from Coinbase Pro.

This is something we have seen numerous times over the last several weeks.

The implications are that these large buys are likely corporations or institutions buying up bitcoin and moving them to cold storage where they will never be seen again.

In all seriousness though, they probably have a longer time horizon than you do.

Here's the latest:

(Source: https://cointelegraph.com/news/bitcoin-whales-bought-the-dip-as-orders-for-100k-or-more-hit-all-time-highs)

As you can see this was simply one buy of many over the last several weeks of large size.

To see even more of this trend, check out this post earlier:

(Source: https://steemit.com/hive-148441/@jondoe/the-amount-of-bitcoin-being-sucked-off-coinbase-is-breathtaking)

Institutions don't mind buying at $50k plus, perhaps we should be taking that que and joining them.