📉 Bitcoin (BTC) could offer investors a rare opportunity to buy into a support zone with “100% long-term accuracy,” a new analysis says.
- Crypto manager Capriole Investments suggests monitoring the fall in BTC price to $24,000
- The founder of Capriole is confident in the support of the BTC price at $23,000
- Bitcoin continues to move sideways around $26,000, but many market participants predict a further fall in the price of BTC
- The $25,000 target remains popular, but Capriole is more interested in long-term trend lines
- The most important are Bitcoin's weekly support zone of $24,000 and the so-called "Electric Price" (EP) - the average electricity bill of miners per BTC around the world, which is now just over $23,000
- Capriole calls EP a "historically solid price floor and level with 100% long-term accuracy"
Bitcoin miners may face problems in the coming weeks.