Famous Analyst Said Bottom In Bitcoin (BTC): He Gave The Date Target For 100k!

Charles Edwards Bitcoin (BTC) He tracked the performance of key indicators regarding miners’ behavior, transaction activities, electricity consumption and down/up periods of the 2009-2020 cycles, and claimed that the industry may be on the verge of the next rally.

“Bitcoin Adoption At All-Time High”

First, he stated that BTC adoption is at an all-time high (ATH) based on the number of wallets holding at least 0.1 Bitcoin. Also, Bitcoin price is hovering below the Global Cost of Bitcoin Electricity indicator, which has historically been a valid signal for bulls.

Also, Bitcoin miner capitulation may have ended. According to this volume indicator, Bitcoin has never been cheaper in the last seven years. According to the Hash Ribbon dynamic indicator, the capitulation of miners, the most dangerous trigger of bearish pressure, has ended.

Edwards is the oldest showing the “value” of a network based on the transaction flow on the chain. cryptocurrency Dynamic Range NVT, one of its economy metrics, is also in the green zone, he says.

The next series of metrics, SLRV Ribbons, Dormancy Flow, HODL Waves, and Long-Term Holders Net Unrealized Profit/Loss, is a metric designed by “diamond hands” to show sales probability. According to the analyst, all these metrics are currently in “bull” waters, so anyone interested in selling may have already sold.

In addition, Edwards also pointed to large-volume stablecoins that are candidates to take Bitcoin to new heights. According to the analyst, these coins have not been withdrawn from the market and are waiting aside.

Looking at the main stablecoins USDC and USDT, the market is more hedged than ever before. According to the analyst, if people wanted to exit the market, they would not keep their money in stablecoins.

Finally, the analyst also claimed that the period between days 780 and 1020 of each cycle has been good for BTC.

The Bitcoin Energy Value model created by Edwards predicts that the BTC price will rise to $100,000 by 2025.

*Not investment advice.

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