Crypto trader and analyst Il Capo of Crypto, meanwhile,to the downside and new macro lows, possibly coming in at $14,000, remains in force.Comparisons between this year and 2018, Bitcoin’s last bear market, are abundant currently — but it may be a case of “too much, too soon.”that while Bitcoin is putting the pieces of the puzzle in place to bottom out, the market is not there yet.
CryptoQuant flagged two important on-chain metrics — MVRV and UTXO Realized Cap — supporting the theory that the nextMVRV divides Bitcoin’s market cap by realized cap and is “useful,” in the words of popular analyst Willy Woo, forUTXO Realized Cap is the price at which different cohorts of Bitcoin were transferred compared to the prior time, giving an insight into profit and loss.
As such, levels above $21,000 need to hold for the trend to change, and so far, that line in the sand has proven impossible to hold for hours, let alone weeks.
Source: Digital Coin News (digitalcoinnews.net)
WilliamSuberg I'm going to spend usdt buying bitcoin regardless of the price
WilliamSuberg Inflation Europe 10.7%. US inflation well above 8%. Federal fund rate still under 5%. Meanwhile WSJ and JPM keep fooling retail with pivot dreams… FOMC
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