Bitcoin's Realized Cap HODL Waves Metric Signals Continued Uptrend, Indicating Potential for New Bull Cycle
Summary:
Bitcoin's Realized Cap HODL Waves metric suggests that the cryptocurrency's uptrend remains intact, indicating a longer-term bullish market. This metric analyzes the movement of BTC supply based on when each coin last moved. Recent data shows an increase in the value of coins that last moved three to six months ago, signaling the potential for a new bull cycle. RHODL has a track record of accurately predicting BTC price phases. However, this information does not constitute investment advice.
Bitcoin's Realized Cap HODL Waves (RHODL) metric suggests that the cryptocurrency's uptrend is still intact, according to on-chain analytics platform LookIntoBitcoin. Despite a recent 10% price dip, RHODL takes a longer-term view of the market and indicates that the bull trend is ongoing. The metric analyzes the movement of BTC supply based on when each coin last moved, weighted by its realized price. Current data shows that coins that last moved three to six months ago are increasing in value, which is typically seen at the beginning of Bitcoin's previous bull markets. Therefore, the recent price dip is considered part of a larger bull cycle. RHODL has successfully predicted BTC price phases in the past, such as calling the end of "euphoria" among speculative investors in December 2022. This information is not investment advice, and readers are advised to conduct their own research.
Published At
8/22/2023 11:04:14 AM
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