While reclaiming $20K was a struggle for Bitcoin, it might soon look like a bargain. A simple but elegant BTC price metric has returned to lows from before the 2017 bull market. (Reporting via WilliamSuberg)
As on-chain metrics converge to put in a classic macro bottom for BTC/USD, a new candidate is suggesting that Bitcoin is even more oversold than the average hodler believes.
As Edwards explains, the lower the value, the “cheaper” Bitcoin is — more hash rate is being applied to secure low-priced coins. “Today we are seeing the second lowest reading for the Bitcoin Yardstick in all of Bitcoin's history,” Edwards commented:
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