Supply shock?

Hello!

Slowly the Bitcoin on the exchanges is being sucked up for a new wave of buyers. Institutional buyers, corporations, OGs, the DCA crew, they are all buying. The prove is the chart below, take a look at the Bitcoin exchange reserves:

The orange line has been going down for more than 1 year now, and there is no sign of stopping. This movement not necessarily has to translate in a rise in the price of Bitcoin, but it's signal. The signal that there is a lot of supply that is moving out of the exchanges, and it probably will be hodled for a while.

The chart has been published by @Dennis_Porter_ one of the industry leaders in trying to push Bitcoin legislation in the United States. He has influenced some bills in different states, and he keeps pushing for more.

If we take a look at the orange line again, we will be able to see that we are at the same level of Bitcoin exchange balance as of late 2018. We are at the same level we were 7 years ago, however the trend at that time was clearly an upward trend, and this time the scenario is completely different, we are in a low trend.
There is nothing that indicates any reversal so I'm expecting the Bitcoin balance on exchanges to keep getting lower and lower.

Do you know who is buying Bitcoin too? Michael Saylor and Strategy. The company now hodls more than 500,000 Bitcoin at his balance sheet and every week keeps buying.

Michael posted the above photo today, and it usually means that they bought again this weekend. I don't know why they are always buying during the weekends, but it's getting usual. At some point we will move higher.
In my opinion $100,000 is going to come soon. Just a little more patience.

I hope you have a great week.
Best regards.

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