BTC balance on Exchanges continues to drop...
The FUD is extreme, but the economics look very good
The fear and uncertainty going around currently is extreme.
We have an SEC that seems to think they can regulate something they don't have jurisdiction over without even giving people the guidelines and framework with which to build within.
Then we have the largest economies in the world making all crypto illegal.
Not to mention the contagion risks of a highly levered company on the brink of imploding.
Add it all up and you'd think people would be shipping their bitcoin to exchanges in mass...
Nope, not happening:
The balance of BTC on exchanges continues to fall.
At some point the fear is going to subside and demand will come in.
When that happens the price is going to go up even easier than it has gone done.
It's just a matter of when...