3 Major Metrics Suggesting Bitcoin Is on Strong Support as BTC Aims at Upward Move - BitcoinEthereumNews.com
अरमान शिरीनयान Despite 60% retrace, long-term holders are still in business Jurrien Timmer, the director of global macro at Fidelity has बशर्ते many metrics about the current place of Bitcoin on the market and its potential for a reversal. According to Timmer, Bitcoin, as a store of value, sits on a historic support level. Bitcoin/Gold ratio As Timmer has mentioned, the BTC to Gold ratio could be used as a “barometer” for the asset, which is becoming a modern or digital version of the traditional store of value type of asset, which Gold has been for decades. An update on Bitcoin: Let‘s take a look at my favorite metrics to see where things stand after last week’s sell-off. /THREAD pic.twitter.com/3mSpgb0dB5 - जुरीरेन टिमर (@ तीमरफिडेलिटी) 16 मई 2022 According to the chart, the ratio stays on a major support after retracing from a local top. The ratio has successfully held through the selling pressure on both Gold and Bitcoin and is now merging. Dormancy flow Another on-chain metric that is used for determining whether Bitcoin is mainly held by “weak” or “strong” hands remains at the lowest point since the bottoms of 2014 and 2018, suggesting that older coins remain unspent and “younger” ones have already been redistributed. विज्ञापन The metric