“$2000 Left To Mark The Bottom In Bitcoin (BTC)!”

glassnode Analyst who has become very popular with on-chain analyzes on Will Clemente to bitcoin He shared an important graphic about it.

Realized price in Bitcoin It is a widely used indicator to find the bottom. This data, which is also seen as the fair value of Bitcoin, has given successful results many times.

Will Clemente also shared that the Realized Price of wallets holding long-term Bitcoin is about to intersect with the Realized Price of wallets holding short-term Bitcoin.

Stating that this will happen after a drop of $2000, the analyst did not comment, but the chart he shared reveals that this is an important bottom signal.

In the chart above, the yellow line shows the fair value of short-term wallets, and the blue line shows the fair value of long-term wallets.

We see that in 2012, 2015 and 2018, when the yellow one of these lines cut the blue from the top down, the price found its bottom level and started to move horizontally. If the yellow crosses the blue upwards, it shows that the accumulation is over and the bull has started.

In case of a similar movement, we see that we are quite close to the bottom in Bitcoin.

Kevin Svenson Cautious

Analyst Svenson, who thinks that this chart should not be evaluated alone, said in his response to Clemente:

“I think we can go a little further down what this chart is showing us. The US dollar index is rising parabolic and I don’t think it will stop anytime soon. I think first of all we need to be convinced that the US dollar index has peaked. Then Bitcoin will start its sideways movements.”

*Not Investment Advice.