|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Bitcoin (BTC) Market Top Identification Guide By IonicXBT
Sep 20, 2024 at 03:00 am
As the crypto market gears up for a potential bull run in 2025, analyst IonicXBT has shared his comprehensive guide on how to identify the Bitcoin market top in this cycle.
Analyst IonicXBT has shared a detailed guide on how to identify the Bitcoin market top in the current cycle, using the SOPR (Spent Output Profit Ratio) metric. In a series of tweets, IonicXBT explained that the SOPR metric has consistently predicted the tops of previous crypto market cycles, such as in 2018 and 2021. The metric indicates whether the average investor in the Bitcoin market is selling their coins at a profit or loss at any given time. When the indicator is above 1, it signifies that the average holder in the sector is selling their coins at some profit. On the other hand, a value below this threshold implies that loss-selling is dominant among the participants. According to IonicXBT's analysis, the moving average SOPR for Bitcoin has dropped below 1.0, indicating that most spent outputs are being sold at a loss. He suggests that this decline in SOPR indicates that the bottom of the correction is near, while the market is not yet close. IonicXBT also highlighted the importance of remaining calm and focusing on the SOPR spikes, which he believes signal market tops as long-term holders lock in profits. He adds that he will be providing signals for identifying the market top, emphasizing real strategies backed by data rather than hype or speculation. “But don’t worry, I’ll be the first to give you the signal of the top. No hype, no nonsense, Just real strategies backed by data,” the analyst noted in one of the tweets. While IonicXBT emphasizes the SOPR metric, other analysts have presented alternative indicators for predicting market tops. For instance, analyst Kaleo has shared an inverse Bitcoin chart suggesting that BTC could reach the trendline of his logarithmic growth curve by next year, potentially hitting a massive price target of around $220,000. In a recent post, Kaleo expressed growing bullishness, adding, “Alright, I’m giving in. Be more bullish.” Analyzing the inverse chart, he suggests that Bitcoin tends to experience steep rallies a few months after its halving event, when BTC miner rewards are slashed in half. Kaleo predicts that Bitcoin will consolidate for a few more days before initiating surges that break through multiple resistance levels. Based on the chart, he appears to be predicting that Bitcoin will reach new all-time highs by early next month. At the time of writing, Bitcoin is trading at $62,092, up over 3% for the day.Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Rollblock: The Future of Online Gaming with 100x Crypto Potential
- Sep 20, 2024 at 06:25 am
- As already-established coins like BNB and XRP maintain their positions in the crypto market, Rollblock, a new altcoin, is capturing investors’ attention
-
- MiCA Crypto Alliance Launched By Ripple, Hedera, and Aptos Foundation; Chainlink Labs Partners With Fireblocks to Enhance Stablecoin Issuance and Transactions; IntelMarkets (INTL) Skyrockets As It Enters Stage Two
- Sep 20, 2024 at 06:25 am
- According to reports, Hedera, Ripple, and Aptos have collaborated to introduce the MiCA Crypto Alliance with technical assistance from the DLT Science Foundation.
-
- DTX Exchange (DTX) Races Toward $1, a Strong Binance Coin (BNB) Contender
- Sep 20, 2024 at 06:25 am
- The crypto market, while promising, isn’t a straight line—prices constantly trade upward and downward. Currently, Aptos (APT), one of the top altcoins, trades on the downside. But with a comeback on the cards, savvy investors are already gobbling up the dip.
-
- Terraform Labs Wins Court Approval to Wind Down Operations in Bankruptcy
- Sep 20, 2024 at 06:25 am
- Terraform Labs received court approval on Thursday to wind down its operations in bankruptcy after agreeing to settle a U.S. Securities and Exchange Commission lawsuit accusing the company of defrauding cryptocurrency investors who lost an estimated $40 billion when the TerraUSD and Luna tokens collapsed in 2022.
-
- Simple PAXGold - Claim Now
- Sep 20, 2024 at 06:25 am
- TammyDarcia AirdropssFollow--ListenShareIn the ever-evolving world of cryptocurrencies, one phenomenon that has gained significant attention is the concept of airdrops.
-
- BlockDAG’s Upcoming Premier League Tie-Up Could Boost 30,000x ROI as Solana & WIF Navigate Volatility
- Sep 20, 2024 at 06:25 am
- The Solana price drop signals a cautious recalibration among investors, as trading volumes have plunged, reflecting a broader search for viable
-
- Bitcoin (BTC) Price Seeks to Flip $62,000 to Support, Eyes Fresh All-Time High in October: Analysis
- Sep 20, 2024 at 06:25 am
- Bitcoin sought to flip $62,000 to support on Sept. 19 as traders digested a 50 basis point rate cut by the U.S. Federal Reserve for the first time since 2020.
-
- Bitcoin Is Likely to Show Strong Performance in Q4 2024, BlackRock Exec Matthew Sigel Predicts
- Sep 20, 2024 at 06:20 am
- Matthew Sigel, head of digital assets at financial behemoth at financial behemoth BlackRock, has predicted that Bitcoin, the leading cryptocurrency
-
- Beam (BEAM) and Mpeppe (MPEPE) Poised to Explode in 2024: Here's Why
- Sep 20, 2024 at 06:20 am
- As the cryptocurrency market continues to heat up, both seasoned investors and newcomers are looking for the next tokens poised to explode. Experts have recently pointed to Beam (BEAM) and Mpeppe (MPEPE) as two cryptocurrencies that are primed for massive gains in 2024.