Bullish to the Bone

Bitcoin’s NVT & Mining Profitability Metrics

As stated in all the previous articles, the only way to make sense of NVT (Signal) Ratio at this point in time is by adjusting it for inflation of Bitcoin’s Coin Supply a.k.a. the Wookalich Ratio. Furthermore, incorporating some hypothetical percentage of off-chain Transaction Volume would be a sensible way of staying true to the meaning of this metric and thus retain its usefulness as a barometer of Bitcoin’s market cycle.

Wookalich Ratio: hinting that BTC has reached the “plateau phase” of the cycle

Mining profitability metrics

Two profitability mining metrics have been developed in order to gauge the selling pressure coming from these Mandatory Sellers. The 24th of February flash sell-off provided new evidence that a new uptrend in profitability is establishing, a positive feedback loop that will slowly but surely carry us into the next halving and a new bull market in Bitcoin.

Mining Profitability Ratio from the dawn of ASICs

Something, Something Relative Mining Profitability Metric: 3 halvings in a row?

Bullish to the bone? not me, but damn close to.

Disclaimer

The content is only to be take as my personal observations and opinions for the purpose to be further considered, answered or discarded, hence this article is far from exhaustive and IS NOT and CANNOT serve as basis for any financial, investment or trading advice.