95% of Bitcoin Wallets Are Now in a State of Profit. Bitcoin's recent price surge to surpass the $68,000 mark has left a staggering 95% of Bitcoin addresses on chain enter a state of profit, which has led to a boom in market sentiment amid the recovery. I think 86% is more accurate. Either way its too high for a rally to launch from. So let's say the launch actually started on Aug4 when roughly 22% supply was in loss. Still not 50/50, but lets use it. Well price has gone sideways for months when during previous rallys it went parabolic.
Hey your buddy developed one of the metrics! Currently at a 2, after consolidating from 3...btw I had this consolidation charted long before they had any data to calculate. https://chainexposed.com/MVRV.html
As I posted back on Oct10: Apparently nobody wants to acknowledge it, but I nailed the price AND the timing AGAIN. So here we are at the moment of truth! Seriously if I was doing this on yt I would be called a guru lol.
Same thing happened in 2016 and 2020 prior to Uptober, check the charts Uptober is when the fun starts but you'll be right no matter what, because you're waxy!
no no you guys don't get to weazle out of my kudos!...I called the leg up to 70k weeks before...I posted it here over a week ago. I am now saying, like I said a week ago that at around the 70k area it will be time to re-avalute. I'm am not projecting up or down, I am projecting ath's and beyond or back to low 50's over the next 2 months. Also, that would agree with the chart that you posted that I fixed. Otherwise 2024 will be the only year, halving or not that hasn't had 4 down months. So using your data we are actually due for a correction.
No actually I am long calls and etfs with size...I don't become a cheer leader for my positions. Secondly, once again I am not saying this is a short or a long if you read my posts lol...man just mention bitcoin can go down and perma bulls start freaking out...and you're not even a perma bull! I give projections not recommendations....its like Schrodingers box right now...can go either way, but the data is leaning me towards correction. Here are some talking heads.... https://www.forbes.com/advisor/ca/investing/cryptocurrency/bitcoin-price-prediction/ No matter which direction it goes the media will plug in a backstory that fits the price action. Like the ftx scandal...the chart was showing a possible drop to 16k after the original runup to 68k, over a year before the scandal broke, ...ftx didn't cause it, it just facilitated it.
I sold off another chunk of my long-calls on Bitcoin ETFs into the markets yesterday. Had been sitting on them since last year when no one wanted to buy them even for pennies. In an ironic twist of fate, I bought up a bunch of bank stock yesterday. How crazy is that? From crypto assets to bank-stocks, lol. Note: TD took a major hit due to their drug-cartel scandal. So I took a little advantage of the drop.
$100k/btc before eoy and you're right, kudos! $50k/btc and you're also right, kudos! Sideways not quite 100k, not quite 50k, you are right again, kudos to waxy, hip hip hooray! I do not have that luxury, I'm only calling for $100k before eoy 2024 and if I'm wrong I will admit that I was wrong, big egg on my face, boohoo, I cry and accept defeat You're calling for Moonvember 2024 and Bullcember 2024 to be negative???? That is just insane, dude. Did I mention 2024 is a bitcoin halving year and Q4 is the most bullish period of the halving year? I'm pretty sure I've mentioned it to you before but just in case, there I've said it again but it won't do any good
Cypto ETF (BTC, BCH, …) have seen nice increase in volume last week. Might be the beginning of something ?