Bitcoin $BTC bottom is in: Seven indicators by top analyst caprioleio
First of all, he noted that BTC adoption is at an all-time high based on the number of wallets holding at least 0.1 Bitcoin . Also, the Bitcoin price is below the Global Bitcoin Electrical Cost indicator, which historically is a reliable hopium signal for bulls. Bitcoin's"energy-based price discount" has only been larger on 2020's Black Thursday, and in 2015 when BTC was worth $160 per coin.
Also, Bitcoin miner capitluation might be over as well. Based on this volume indicator, Bitcoin has not been so cheap in the last seven years. The capitulaition of miners - the most dangerous bearish pressure trigger - is also over, based on the Hash Ribbon dynamics indicator.Dynamic Range NVT, one of the oldest cryptocurrency economics metrics that displays the"value" of a network based on the transaction flow on-chain, is also in green zone, Mr. Edwards says.
Also, Mr. Edwards noticed the large volume of stablecoins that are ready to supercharge Bitcoin's rally to new highs: this money is just"parked" and not taken off the market: Looking at the main stablecoins USDC and USDT, the market is more hedged than ever before. People are not parking their savings in stablecoins if they are leaving this industry, this is dry powder waiting to be deployed.
Last but not least, he pointed out that the period between the 780th and 1,020th days of every cycle unlocks an amazing buy opportunity for Bitcoiners .
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