Ark Invest Shared Three Indicators That Show Bitcoin Is At The Bottom!

Leading cryptocurrency Bitcoin (BTC) It has been continuing its horizontal movements between $18,000 and $24,000 for a long time.

While BTC continues to rise above $ 20,000, investors are excited, and when it breaks $ 20,000 and continues to fall, it is looking for the answer to the question of whether a new bottom is coming.

Some analysts say that in light of technical indicators, BTC is already bottoming out. Now these analysts are joined by ARK Invest crypto analyst Yassine Elmadjra and Reflexivity Research co-founder Will Clemente.

Written by ARK Invest CEO Cathie Wood, ARK analyst Yassine Elmandjra, ARK researcher David Puell and Frank Downing, and Will Clemente bitcoin In the September report, it was stated that BTC was already at the bottom.

BTCElmandjra and Clemente, who stated that .

As the first reason “The cost base of short-term Bitcoin investors falls below the cost base of long-term BTC investors” shown.

According to analysts, this indicates a cyclical bottom.

“This has happened three times before and is now happening for the fourth time, marking a historically cyclical bottom.”

Analysts as the second reason miner capitulation showed its completion.

“The 30-day moving average hashrate has come out of a period of major tightening, breaking above the 60-day moving average.

In addition, the net realized profit-loss ratio indicates that the market has completed its cyclical capitulation.”

Analysts cited the third reason that BTC’s long-term conservative supply hit an all-time high.

“Bitcoin’s long-term holder supply has reached an all-time high of 13.7 million BTC, while quarterly destroyed coins hit 12-year lows.

This is a sign of very strong holding behavior.”

Finally, analysts said that besides this strong stance, BTC is facing many negative conditions.

“As BTC tries to stay strong, uncertain macro conditions, the continued aggressive monetary policy of the FED, the rising dollar continue to negatively affect all assets, including Bitcoin, and put pressure on BTC.”