On-Chain Indicator at 10-Year Lows Could Trigger Bitcoin (BTC) Reversal: InvestAnswers

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On-Chain Indicator at 10-Year Lows Could Trigger Bitcoin (BTC) Reversal: InvestAnswers

A popular crypto analyst is highlighting a key metric while assessing the future for Bitcoin (BTC) amid faltering markets.

Ko te ope ingoamuna o InvestAnswers ka korero his 442,000 YouTube subscribers about the significance of Bitcoin’s dormancy flow, which measures the average number of days that coins have remained untouched.

“This dormancy flow is kind of interesting for a few reasons. First of all, the asset Bitcoin is obviously trading below its fair value as HODLers, including long-term ones, are kind of liquidating.

Ko te tikanga tenei i te wa e pau ana nga moni tawhito. He rite ki nga mea katoa e moe ana, ko te wa ka mutu te whakapau moni a nga HODLers me te huri i te mahi hoko, koinei te tino hurihanga hei tirotiro.

Puna: InvestAnswers/YouTube

The analyst next points out how Bitcoin dormancy has fallen to a 10-year low, adding that historical data suggests that such lows precede price moves to the upside.

“Ki te titiro koe ki tenei tūtohi, i tapirihia e ahau tetahi mea hina e kii ana he 'tekau tau te iti.' Ko te tikanga he iti noa iho i nga wa katoa na te mea ko nga raraunga i mua i te tau 2010 he ahua kore e tino taea te tātari na te mea kaore i te nui.

Engari he mea whakamere tenei rerenga mokemoke tekau tau-iti. Me tatari tatou kia mataara kia piki ake tera. I nga wa katoa o te hitori ka heke iho, ka tere te huri i te akoranga.

Ka titiro tonu matou ki runga i tenei miraka karaka iti ki raro, a ka huri tera, ko te tikanga ka mutu ta matou hoko ka huri ki runga."

I te wa e tuhituhi ana, Bitcoin kua heke iho i te kotahi paiheneti i roto i nga haora 24 kua hipa, he $20,321 te utu.

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Ko te pou On-Chain Indicator at 10-Year Lows Could Trigger Bitcoin (BTC) Reversal: InvestAnswers i puta tuatahi Te Hodl Daily.

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