Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Hi guys,
I wanted to share this article, because they speak about a possible Bullish scenario:
I wanted to share this article, because they speak about a possible Bullish scenario:
It seems that in these here parts, many of us prefer the bullishly inclined bitcoin presentations - does not seem to matter too much whether it happens to be a bull market, bear market or seemingly indecisive market.
Quote
The cost basis term is often used to describe the average entry price of investors into an asset. The short-term holder cost basis shows that the average entry of short-term Bitcoin holders is currently at $47,000.
To me, it seems that Will is saying that it could go either way.. he is not really committing to anything overly bullish in that particular statement.
I did not know the baseline of cost and what it implies,
Quote
Whenever the short-term cost basis crosses the HODLer Implied Price, investors receive either bullish or bearish signals, depending on the direction of a cross. In the current case, if Bitcoin continues to drop further, the market will most likely dive deeper as selling pressure from short-term traders aggravates.
Source:https://u.today/bitcoin-bullish-scenario-possible-after-reaching-47000-blockware-analyst
Some metrics are something demonstrable for people's emotions, for example extreme fear is one of the causes that in this article make.
On the other hand Bitcoincharts also made a very interesting RT:
Twitter: https://twitter.com/therationalroot/status/1518907812704882688
It seems to show that there are increasingly longer cycles as time passes.
Of course, there are guys in the space who are trying to use bitcoin tailored analysis that will use the kinds of data that are not so easily gotten in traditional assets - while at the same time, some of the tools that they used might have been ported over from mainstream usages.. and it seems at the same time, there are some new bitcoin specific tools - and of course, if we are not experts in these areas, we might not even be able to determine if some kind of a tool is a new tool or not or if there might or might not be very good predictive power to attempt to employ some variation of an analyzing tool in bitcoinlandia.