Famous Analyst Claims He Has Found The Absolute Bottom For Bitcoin: Bitcoin Will Rise In 30 Days!

Popular on-chain analyst Will Clemente Bitcoin (BTC) He claims that those who predict a decline in the region may be in for a surprise.

The analyst, who is quite closely followed by the crypto community, tells his 273,000 Twitter followers that Bitcoin bears will be shocked because he predicts the value of BTC to rise much higher in 30 days.

“The bears are wrong, good night. Wake me up in a month.”

Clemente also supports his point of view with a chart (the illiquid supply shock rate) that compares the BTC price with the supply rate of illiquid coins or rarely sold coins. According to the on-chain analyst, BTC; Since the metric tends to follow the bullish and bearish movements, the illiquid supply shock rate is seen as a good leading indicator for BTC price.

“The liquidation of supply at the end of April/May was a leading indicator of the ensuing price drop.

Locking in supply at the end of June/July, this positive mismatch was another leading indicator of the price reversal that followed.”

Source: Will Clemente/Twitter

Clemente also noted that both whales and minnows (baitfish) holding more than 1,000 BTC and minnows (baitfish) holding less than 10 BTC have since the flagship coin lost more than 50% in May of this year. He says he has a stable accumulation since then.

The popular analyst claims that Glassnode has created a model based on data that establishes a base price for Bitcoin. According to Clemente, the absolute bottom for BTC is about 10 percent below the current BTC price at the time of writing.

“Using Glassnode’s illiquid supply data, this model essentially tries to predict a baseline based on Bitcoin’s real-time scarcity. Price will be released in mid-2017 and for a short time earlier this year. [bu verilerin] never for long though [bunların] and I think it remains valid as a proxy for an estimated base. This level is currently $38,283.”

Source: Blockware Intelligence

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.


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