RATE Group | Bitcoin Supply-side Price Indicators at Critical Levels for Bullish Continuation
76981
post-template-default,single,single-post,postid-76981,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Supply-side Price Indicators at Critical Levels for Bullish Continuation

25 Jan Bitcoin Supply-side Price Indicators at Critical Levels for Bullish Continuation

Posted at 06:40h in Bitcoin News by

[ad_1]

Supply-Side metrics or indicators include hash-rate, difficulty ribbon, Bitcoin addresses, etc. While demand side would include Market Value/Realized Value (MVRV), NVT Ratio, and so on.

Expert on-chain analyst and market analyst, David Puell, had designed a new Bitcoin indicator, the Puell Multiple. It accounts for the supply side metrics of Bitcoin. Glassnode research which recently listed the metrics, tweeted,

The Puell Multiple is the ratio of coin issuance (in USD) and its yearly MA and can be used to identify times when the value of mined #bitcoins is historically too high/low

While halving on the horizon, the supply-side could have a strong effect on the price. Hence, fractals or levels from the past could be helpful in determining the current state.

Halving Fractal from 2016

The Puell multiple during the last halving was in the range of 1.25-1.75. The ratio is reaching similar levels three months before the event. However, it is still a little early to confirm the previous…

[ad_2]

Source link

Tags:
, , , , , , ,