CryptoQuant Research Manager Julio Moreno stated that the demand for Bitcoin (BTC) is increasing at an incredible pace.
In his social media post dated April 9, Moreno emphasized that the demand for Bitcoin has increased in an unprecedented way. The experienced analyst pointed out that the price was under serious buying pressure.
While Moreno stated that the demand for Bitcoin clearly exceeds the supply, he stated that this demand comes from savings addresses.
Stating that there is a large increase in savings wallets in general, Julio Moreno stated that this situation reflects only a part of the total demand and that he thinks there is a larger demand:
"Demand on Bitcoin exceeds supply. Demand is increasing at an incredible rate. I've seen this increase in the total balance in savings addresses, so this is just a portion of demand. I predict the rest of the iceberg is even deeper."
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