On-Chain Price Models Predict Possible Bitcoin (BTC) Bottom
BitcoinOn-Chain Price Models Predict Possible Bitcoin (BTC) Bottom09 / 02 / 2022बिटकॉइन एथेरियम समाचार Bitcoin (BTC) continues to struggle near the $20,000 level amid rising volatility and market-wide pressure. Moreover, the U.S. Fed rate hike on September 21 will decide the market direction in the coming months. As per Wall Street experts, the Fed could go with another 75 bps hike in September to curb inflation that will likely push Bitcoin price below the $20,000 level. Possible Bitcoin (BTC) Bottom Formation as per On-Chain Models Bitcoin (BTC) price bottom can be predicted using various on-chain price models such as Realized price, Delta price, and Thermo price. However, the actual price movement also depends on technical and macroeconomic factors. Bitcoin On-Chain Price Models. Source: CryptoQuant Realized price is the widely used on-chain price model to estimate a Bitcoin price bottom. It is the average price at which each Bitcoin in circulation last moved. Historically, Bitcoin has always bottomed below the realized price. If the BTC price declines further below the realized price, other price models are used. Currently, the realized price is $21,592. Historically, the Bitcoin (BTC) price bottomed at the Delta price in the 2015 and 2018 bear market. Currently, the delta price is at $14,478.