Quant Analyst | Bitcoin Accumulation Flashes A New Bottom Signal
Bitcoin should be a trending word in the crypto space, with the current crypto winter it’s been really difficult for the primary digital asset to find it’s balance as regards market price and also coupled with the agitation of these assets being regulated.
In a tweet from chief executive officer of crypto-quant, says that;
“ $BTC accumulation level reached a 7-year high.
Over 6-month-old Bitcoins now take 74% of the realized cap. It was 70%, and 77% at the last bottoms in 2019, and 2015 respectively. Imagine you buy Bitcoins and do nothing over six months. You know how hard it is…”
He clearly notes that he’s not trying to proved that Bitcoin supply hasn’t changed or moved in the last six months. Which from he’s tweet he clearly states that;
“It’s not just about Bitcoin supply but realized capitalization. I meant ‘over six-month-old Bitcoins take 74% of the realized cap, which means over six-month-old unmoved Bitcoins take 74% of market cap in terms of PnL realization.'”
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