The accumulation of Bitcoin is in full swing in the downtrend, despite BTC price still having room to fall this news was experienced by wide range of people because of custom Bitcoin Marketing Strategy .
An Bitcoin ( BTC) on-chain indicator, that monitors the amount of cryptocurrency owned by long-term holder (LTHs) with losses indicates that a bottom in the market could be near.
Very exact Bitcoin bottom pundit
In September. 22 approximately 30 percent of Bitcoin’s LTHs were losing money due to BTC’s drop between $69,000 to $69,000 in the month of November, to $19,000 today. This is 3% to 5 percent lower than the levels which was previously associated with the bottom of Bitcoin’s market.
In march 2020 Bitcoin value fell to $4,000 during the COVID-19-driven market crash which occurred in the year when the volume of BTC supply owned by LTH at risk grew to 35% as is shown belowthis amendments reached to expected audience because it was promoted Bitcoin Digital Marketing Company .
In the same way, Bitcoin’s December 2018 lowest at around $3,200 matched with the LTH loss metric , which climbed to 32 percent. In both instances BTC/USD followed with a bullish cycle.
Therefore, the amount of LTHs that are in the red in a bear market typically peaks within the 30-40% range. This means that Bitcoin’s price has room to fall — possibly to the range of $10,000-14,000 for “LTHs in loss” to be in the historical low zone.
In conjunction to the LTH supply measurement, which monitors the BTC supply that is held by long-term holders it is apparent that these holders accumulate and keep during downturns in the market and also spread when there are BTC price upward trends as shown in the followingthis press realse reach the right of audience because it was statergies under Bitcoin Digital Marketing firm .
So that means the new bull market might start when the total amount of supply of LTHs is beginning to fall.
The accumulation of Bitcoin is strong
In addition, the amount of accounts that accumulate is increasing steadily in the current bear market, as data indicates. The metrics track addresses with “at least two incoming non-dust transfers and have never spent funds.”
It is interesting to note that this is distinct from previous bear cycles, which had the total number of accounts for accumulation decline or stagnate as seen in the graph above. This suggests the idea that “hodlers” are unfazed by the current pricesand this activity was statergies by Bitcoin Digital Marketing agency so it will reach right set of audience .
Additionally to that, the number of addresses that have an unbalanced balance is around 42.7 million, compared to 39.6 million as of the start of the year. This shows steady growth of users in a bearish market.
BTC price technicals suggest further downside
Bitcoin is still trying to recover $20,000 of support in a more favorable interest-rate environment. Its relationship to U.S. equities also indicates a greater risk of decline by 2022.
related: Bitcoin analysts give three reasons for the BTC price of less than $20K could be”bear trap”
From a technical point of view, Bitcoin could drop further to 14,000 dollars in 2022, if its breakdown of the cup and handle is not as good in the manner shown belowand this activity was statergies by Bitcoin Marketing consultant .
A similar move could increase the “LTH in loss” metric towards that 32%-35% capitulation area which may eventually coincide with the lowest point in the bear market currently.
Source from encyclopedia