Head of Crypto Exchange Says Bitcoin Price May Balloon to $83,000 As Metrics Turn Bullish – Here’s When

Head of Crypto Exchange Says Bitcoin Price May Balloon to $83,000 As Metrics Turn Bullish – Here’s When


Exchange balances are dropping and that’s a bullish indicator that may propel Bitcoin to a new all-time high, according to Danny Scott.

Scott, chief executive of Isle of Man-based crypto exchange CoinCorner, notes on Twitter that people are buying BTC and stockpiling it in cold storage.

Explains the CEO,

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“The only time exchange Bitcoin balances dropped for a consistent period was 6 months in the build-up to the 2017 bull run.

We’ve now passed 12 months and [it is] dropping significantly.”

Scott also notes that if Bitcoin follows previous April trends, its price will balloon next month.

“Law of averages gives Bitcoin an $83,000 price target for April. Average over 10 years in April +51%”

The exchange CEO tells Forbes that a historical average like that could potentially have actual power in the market.

“There have only been two negative Aprils since bitcoin began – in 2014 (-6%) and 2015 (-4%) – which is tied coincidentally with the

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