3 key metrics to watch as Bitcoin price tries to top $20,000
Afraid Bitcoin price might crash? These three key metrics help traders spot bullish and bearish sentiment in the crypto market. For the past week, Bitcoin (BTC) price has been flirting with the $20,000 mark, which has led some traders to lose their patience. In the eyes of some traders, the lack of bullish momentum is problematic, especially considering that BTC tested the $16,200 level roughly a week ago.Experienced traders know that there are key indicators that serve as telling signs of a trend reversal. These are volumes, the futures premium, and top traders' positions at major....
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Bitcoin remains on an upward trend after breaking through $40,000 once again. However, this upward trend has not translated onto on-chain metrics. While the price of the digital asset continues to sit in the green, on-chain metrics have plummeted paining an entirely different picture in relation to price. From miner revenues to transaction fees, the […]
OK Polkadot (DOT) – which is seen to be on a winning streak in terms of social media metrics and development activity – has been on a retreat recently. DOT social media metrics nosedives Polkadot’s decline in developer activity could leave a bad taste in the mouth of investors DOT’s NFT volume off to as high as 1.64 million on September 24 Is this sudden drop in both metrics just a temporary hiccup or could be a warning signal to investors? Judging by the chart below, DOT price was seen to have nosedived in terms of development activity in the past few days. It’s surprising....
While we haven’t achieved the elusive $20,000 spot price all-time high yet, these other metrics show where bitcoin has grown far beyond previous peaks.
Predicting the bitcoin bottom is something that is done with much fervor by investors in the space since it often means more profit if they can accurately catch the bottom. It often proves to be a difficult task but using blockchain metrics can provide some guidance. Presently, these blockchain metrics have fallen to new lows, […]