This classic Bitcoin metric is flashing buy for first time since March 2020
The "Investor Tool" is now telling the market that "outsized returns" are due for anyone who buys Bitcoin now. Bitcoin (BTC) bulls may only need a pair of simple moving averages (SMAs) to determine if the bottom is in this halving cycle.In a Twitter thread on June 2, Checkmate, lead on-chain analyst at crypto analytics firm Glassnode, flagged the Investor Tool metric hitting “buy the dip” territory."Generational zone" enters for Bitcoin's Investor ToolThe Investor Tool is a simple yet effective BTC price metric showing the potential for buyers to enjoy “outsized” returns.Its creator,....
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As a "hidden bullish divergence" begins to play out, anticipation combines with calls to plan a Q1 market exit. A key Bitcoin (BTC) metric has just reached its lowest levels since the months after the March 2020 market crash.As noted by popular analysts on Jan. 5, Bitcoin's relative strength index (RSI) is printing a "hidden bullish divergence" on monthly timeframes — and if it plays out, they say, the result will be very pleasing for hodlers.RSI falls below summer 2021 floorAmid frustration at the lack of direction on BTC/USD, it is no secret that a host of on-chain indicators has long....
Ethereum’s price action has been slightly underperforming that of Bitcoin as of late The cryptocurrency has remained stuck beneath its crucial resistance level at $380, which points to some weakness amongst buyers Until this level is surmounted and ETH can regain its foothold within the $400 region, it may remain somewhat technically weak One fundamental metric seems to indicate that ETH is also plagued by some underlying weakness is its daily active address count This […]
Popular decentralized exchange (DEX) platform on Ethereum, Uniswap, celebrates a major milestone. Via its official Twitter account, the team behind the protocol announced that it has processed $1 trillion in all-time trading volume. Related Reading | Coinbase Is on a Downwards Spiral and Could Be Taking your Crypto with It As seen below, this metric has been on an uptrend since September 2020. At that time, the protocol processed less than $10 billion in cumulative trading volume. The $1 trillion milestone was reached in less than a year as Uniswap went processing around $250 billion....
The fractal setup appeared at the beginning of the Bitcoin price rallies in January 2019, January 2020, March 2020 and December 2020. A Bitcoin (BTC) mining indicator that has preceded several major BTC price rallies is flashing again.Blockchain analytics platform Glassnode spotted a golden cross between the 30-day and 60-day moving averages of Bitcoin's hash ribbon. In theory, such a crossover indicates that the price momentum is switching from negative to positive.Bitcoin hash ribbons. Source: GlassnodeHash ribbons are based on Bitcoin’s network hash rate behavior and are designed to....
Ethereum Classic is preparing another hard fork. It was announced in statements published last week that the project’s development and mining community is committing to a change in its monetary policy by December of this year. Essentially a move to a new protocol, all current Ethereum Classic users and miners should have upgraded their software by then. If everyone does not upgrade their software, the project can split into two incompatible networks, blockchains and currencies. Of course, that is exactly how Ethereum Classic itself broke away from the Ethereum Foundation’s Ethereum last....