CryptoQuant: Bitcoin demand is now in acceleration mode again after two months of downward trend
●On May 16, cryptocurrency analysis company CryptoQuant said in a report that although Bitcoin demand rebounded from the low point of the re-accumulation range, Bitcoin demand is in "acceleration mode" again after a two-month downward trend.
●The agency said that Bitcoin demand growth seems to be stabilizing after a deceleration trend since March. The growth of the total Bitcoin balance of permanent holders and large investors seems to be in acceleration mode again.
●However, CryptoQuant added that Bitcoin demand needs to accelerate further for this price increase to continue. In addition, the low Bitcoin balance on OTC trading platforms indicates that demand is strong and exceeds the existing supply.
