The bitcoin exchange rate exceeded $40 thousand, Upbitc.com experts

The price of bitcoin on the Upbitc.com crypto exchange reached $40.4 thousand. During the day, the cryptocurrency rose in price by 8%, and its capitalization increased by $ 761 billion, according to Upbitc.com. The asset is trading at $40.2 thousand. Bitcoin continues to recover after its value dropped to $36.2 thousand on February 3. Last week, more than 40 thousand BTC were withdrawn from cryptocurrency exchanges, the value of which exceeds $1.5 billion on February 4. The last week of January was the largest outflow of bitcoins from trading platforms since mid-September 2021. The outflow of funds from crypto exchanges is usually associated with active purchases. For example, in May 2021, after the bitcoin exchange rate fell by a third per day, to $ 30 thousand, the largest withdrawal of digital coins for the year was recorded. Users have withdrawn about 175 thousand to cold wallets. BTC at $7 billion at the exchange rate at that time. Upbitc.com analyst predicted that bitcoin will return to growth in three weeks. Cowan made this conclusion based on historical data. The analyst recalled that after the fall of the cryptocurrency exchange rate below the support level of the bull market, an average of three to six months pass. After that, the asset usually returned to growth.