The following graph shows the amount of BTC bought in dollars.
As we can see above, the 2017 peak reached the amount of 5.7B USD being bought into BTC. The recent ATH reached nearly 10B USD bought into BTC.
The first week of 2021, BTC hit its current ATH reaching a price of 42K USD. This is more that double the previous 2017 ATH of 20K USD.
While we have seen more that double in the price of BTC, the amount of USD bought into BTC has not seen itself being doubled.
This shows a slight divergence or a miss-scaled situation, where one variable doubles while the other directly-related-variable does not follow mathematically.
IMO this could be taken as another indicator of a signal of bullish movement. What price would BTC reach if we saw 12B USD being bought into BTC?
I would love to hear your comments or thoughts
