Here’re a few signs that Bitcoin is in a value zone followed by bullish momentum
This article was written on November 28, 2022, but the data contained in it has not lost its relevance.
INTRO
It’s been a tough time for Bitcoin lately, as it’s been in a bear market for 378 days, one of the longest and most challenging in its history. However, if you believe in Bitcoin’s value over the long term, there’s good news. Some key on-chain metrics have been showing signs that Bitcoin is in a global value zone since around June 18, 2022.
This means that it’s a great time to pay a bit more attention to Bitcoin, as the value zone doesn’t usually last very long. Even the recent collapse of the FTX cryptocurrency exchange and its ripple effects have only strengthened these signals, with some metrics hitting extreme values. So, if you’re a believer in Bitcoin’s potential, this could be a great time to take a closer look!
Let’s dive into five (5) predominantly on-chain indicators👇
1. BTC REALIZED PRICE BY AGE
We see something interesting when we look at BTC Realized Price by Age for the 6m-12m and 1y-2y age ranges. After a bearish cross happens, with the 6m-12m age range crossing below the…
