The Bitcoin price remains stable at $ 21,000: 4 new bullish indicators
The Bitcoin price remains stable at $ 21,000: 4 new bullish indicators
The cryptocurrency rally this month was so robust that retailers are looking for the low point. Is the market already there, or will bear the prices again press the important optical support at $ 20,000?
Here are four new bullish indicators for the BTC Prize.
solid MA crossover for new Bitcoin addresses
The on-chain-intelligence and insights company Glassnode has discovered a bullish technical signal in Bitcoin addresses. The simple, sliding 30-day average (SMA) has been listing over the 200-day SMA since the beginning of November. This is a leading interest bully indicator for the price of the underlying assets.
The SMA crossover event stopped during the Alameda-fx scandals. It continues in the middle of the bankruptcy of the Digital Currency Group subsidiary Genesis .
This signals an increased demand for BTC and could be a tailwind for the Bitcoin price if the trend continues.
Bitcoin whale addresses are Hodling
Bitcoin whale addresses also keep their BTC instead of making profits, which is another interest bully indicator for the price of the financial value. According to Glassnode, the number of BTC addresses with 1,000 to 10,000 bitcoins has been stable at just over 1,900.
A Bitcoin wal address has even moved BTC worth $ 58 million from Binance. This usually signals the intention to block the stocks for a longer period of time, to limit the crypto exchange offer and to support the Bitcoin price.
If the wal addresses continue to exist, Bitcoin may not be overbought as it looks in the latest RSI value of 78.
mining difficulty and hashrate at ATH
This is the last thing you could expect if the BTC Prize is as low and uncertain than it has been for a year. This means that the MVPS of the industry is more investing in the underlying infrastructure of the network.
You do this at great risk for your business model if the Bitcoin price is endangered by the market conditions. For this reason, Miner, who have been in the business with Hashing for years, are considered some of the most intelligent participants on the cryptom market.
four -year cycles
Bullenmarkt 2018-2021: 1064 days
2021-* Current* Market deep: 364 days
remaining days up to the summit if we copy the time frame of the cycle again: 1001 days pic.twitter.com/konzxjruy5
- Hornhairs 🌊 (@Cryptohornhairs) 12. January 2023
Note that the BTC halfway through the previous halving events that reduce the new Bitcoin range and trigger market bubbles on the way down. The graphics and the previous cycles in this tweet are not the only ones. There were two price bubbles before the last two in 2013 and 2009.
These market cycles are actually planned in the Bitcoin price with its four-year halving events in order to boost the demand for crypto with a decreasing new offer with every halving.
A correction follows on every bladder due to the rush of over -investment in every upward cycle. If these interest bullies give the right impression, we could have had this latest Bitcoin business cycle behind us in 2023.
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