RATE Group | What blockchain data tells us about Bitcoin’s road to $10,000
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What blockchain data tells us about Bitcoin’s road to $10,000

08 Feb What blockchain data tells us about Bitcoin’s road to $10,000

Posted at 09:20h in Bitcoin News by

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Research by Jesus Rodriguez and Lucas Outumuro of IntoTheBlock

Round, exact numbers typically become a strong psychological barrier for investors in capital markets. That certainly seems to be the case with the $10,000.00 mark in the case of Bitcoin. For days, analysts have been projecting different paths to break through the mystical resistance level. Complementing technical charts, investors could also get interesting insights about Bitcoin’s path to $10,000.00 by analyzing the Bitcoin blockchain. 

Blockchains represent an incredibly rich and unique source of information about crypto-assets. One of the most fascinating benefits of blockchain datasets is that they contain statistically relevant patterns about the behavior of individual investors which can result highly complementary to traditional technical analysis models. 

Let’s explore these ideas in the current market context of Bitcoin.

What technical analysis tells us

Bitcoin price

Technical charts showed that there is a large resistance…

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