RATE Group | Bitcoin Users Stock Up as Data Shows Average Price Never Went Bearish
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Bitcoin Users Stock Up as Data Shows Average Price Never Went Bearish

29 Dec Bitcoin Users Stock Up as Data Shows Average Price Never Went Bearish

Posted at 18:21h in Bitcoin News by

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Bitcoin (BTC) never saw a bear market in 2019 — and the evidence is easy to find on the blockchain, according to some prominent figures.

Data covering various metrics shows that despite recent price volatility, Bitcoin has held strong throughout its eleventh anniversary year.

Investors echo that resolve — as the numbers confirm, so-called “hodlers” are more attached to their stash than ever before.

One BTC price is in a perpetual bull market

BTC/USD has dipped significantly several times since September. The pair’s rapid rise and fall triggered predictable warnings from critics and concerns from traders.

Zoom out, however, and the picture changes completely. As noted by PlanB, creator of the Bitcoin price forecasting tool Stock-to-Flow, Bitcoin’s 200-week moving average (200WMA) has never gone down.

Uploading a chart to Twitter on Dec. 28, the analyst revealed that short-term price action has failed to turn the 200WMA negative at any point in Bitcoin’s existence. Current…

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