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Analyst – Crypto News Updates

                                                            Am 18. Juni fiel der Preis von Bitcoin auf Binance auf ein Tief von 17.622 $, und die Community befindet sich seitdem in intensiven Diskussionen darüber, ob dies der Tiefpunkt war.

According to an analyst at cryptocurrency resource CryptoQuant, the bottom may not yet be in, but we are about 1/3 of the way to forming it.

  • Tomáš Hančar – Analyst at CryptoQuant – uncovered that the LTH SOPR 20-day SMA suggests we are “1/3 into a potential bottoming process.”
  • The above indicator is the abbreviation for 20-day simple moving average (SMA) of Long-Term Holders’ Return Rate (LTH SOPR).
  • The data shows that this ratio has spent about three months below the neutral value of “one,” which the analyst says is 1/3 of what is normally required for a bottoming process.

I have roughly measured historical bottoming processes/cyclical accumulations and ON AVERAGE (this includes the less than two month period in March 2022) we should be looking at an indication of approximately 250 days of bottoming processes.

  • The analyst goes further and includes the “smoothing” line of the indicator’s 20-day moving average.

As for the indicator’s 20-day MA smoothing line in technical terms, between July 10th and 14th we saw what looks like a bounce off the actual LTH-SOPR low of 2020, which coincidentally is not too far from away from the 0.49 mark, which marked both the 2015 and 2018/2019 cyclical bottoms.
Analyst – Crypto News Updates, Crypto Trading News CryptoQuant

  • In conclusion, he believes it’s time to start scaling, but with caution, “just in case we get another chance to buy below 20,000.”
  • It’s been about 47 days since the last low, so he thinks it’s better to make sure that a potential breakout scenario is also covered.
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Source: Crypto News Deutsch

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