For the past several days I was sick and really didn’t check my BitWallet and the price of Bitcoin….yeah, I was that sick….I was really hoping to see Bitcoin out of the $16,000 range but we are still there….hopefully the below holds true and we get out of this slump and big time…

Bitcoin Bullish Signal: Exchange Whale Ratio Continues To Decline

“As pointed out by an analyst in a CryptoQuant post, the bitcoin exchange ratio on a 72-hour moving average has been on a decline. The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top 10 Bitcoin transactions to exchanges and the total exchange inflow.

Since the ten largest deposits to exchanges are usually from the whales, this metric tells us what part of the total exchange inflows is being contributed by these humongous holders. Thus, when the value of the indicator is high, it means whales are making up a high part of the inflows right now.

As one of the main reasons investors deposit to exchanges is for selling purposes, this kind of trend can be a sign of heavy dumping from this cohort, and could therefore be bearish for the value of the crypto. On the other hand, low values of the ratio imply whales aren’t making a disproportionate contribution to the inflows currently, which could be bullish for the price of BTC…

…whales have been dropping their selling pressure recently. Interestingly, a similar pattern was also seen in the period between late 2018 and early 2019, as can be seen from the chart. In that cycle’s bear market, this trend in the whale ratio coincided with the price bottoming out.

Once the whale ratio had finished its decline in that bear market, Bitcoin finally began to see some upwards momentum. If the same trend follows this time as well, then the current downtrend of the whale ratio could also lead to some bullish relief for BTC investors.”

https://bitcoinist.com/bitcoin-bullish-whale-ratio-continues-decline/