Let’s take a look at two pieces of data from the Bitcoin market value to realized market value ratio indicator (#Bitcoin: Market Value to Realized Value Ratio) in different periods (the two pieces of data started from the day when Bitcoin production was halved in 2016/20 respectively).
At this moment, #BTC will explode in the next 1-4 months.
Currently, Line4 has been broken, the next target is Line5😎($147553)
The chart shows the newly developed Bitcoin Fibonacci-Terminal pricing model, which uses 5 lines to encompass the entire historical price of the coin from the lowest to the highest point, with each line based on the Fibonacci sequence (3, 5, 8, 13, 21) and designed according to the Bitcoin Transferred Price.
It is worth mentioning—— In mid-2011, the bull peak, the price broke through 6 lines In the first peak of 2013, the price broke through 6 lines In the second peak of 2013, the price broke through 8 lines At the end of 2017 bull peak, the price broke through 9 lines In the first half of 2021 peak, the price broke through 6 lines Currently, the price breaks through 0 lines
Perhaps one of the most optimistic Bitcoin bull peak predictions currently ($210k+)
The median often better represents the general situation compared to the average, as reflected in the profit rate; the current median profit rate should be lower than the average profit rate; during the bull peak, the median profit rate should be higher than the average profit rate.
On-chain data's MVRV can reflect the average profit rate; Median MVRV can reflect the median profit rate.
Fitting the median MVRV to a bull peak-bear bottom function, based on the fitting function, a newly developed oscillation indicator divides the Median MVRV into 6 ranges from 0 - 100.
Currently, the score of this oscillation indicator is 46.8, still in the skeptical range. The bull peak price calculated solely based on the current score is: 9.9w / 46.8% = $210k+
Note: In some cases, when the price fluctuates upward while the on-chain BTC is fully traded, MVRV can fluctuate sideways without increasing.
In simpler terms: As time goes on, Bitcoin's bull peak prediction will only get higher, $210k is just the starting point.
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Nine Major Bitcoin Bull Market Peak Escape Indicators
The median is a good thing, often representing the general situation better than the average.
Glassnode recently launched median-related on-chain indicators, such as the Median Realized Price shown in the figure above, which reflects the median cost of buying coins on-chain (sorted by the duration since last moved, taking the median, with the price at the time of movement being the median cost of buying coins on-chain)
Based on the Median Realized Price, the Median MVRV can be derived. As shown in the figure above, fitting the Median MVRV yields the bull peak and bear bottom fitting curves.
Based on the fitted curve of the Median MVRV, a completely new set of BTC bull peak and bear bottom pricing indicators can be obtained (as shown in the figure above)
The application of the Fibonacci sequence in BTC: The Thermocap indicator is also not to be underestimated.
The image shows the newly developed BTC: Fibonacci-Thermocap rainbow chart, using the Fibonacci sequence [1, 2, 3, 5, 8, 13, 21, 34, 55] as multipliers to obtain the Thermocap Price.
Note: The Thermocap Price can be obtained by dividing the Thermocap by the total circulation of BTC.
Nine Major Bitcoin Bull Market Peak Escape Indicators
The median is a good thing, often representing the general situation better than the average.
Glassnode recently launched median-related on-chain indicators, such as the Median Realized Price shown in the figure above, which reflects the median cost of buying coins on-chain (sorted by the duration since last moved, taking the median, with the price at the time of movement being the median cost of buying coins on-chain)
Based on the Median Realized Price, the Median MVRV can be derived. As shown in the figure above, fitting the Median MVRV yields the bull peak and bear bottom fitting curves.
Based on the fitted curve of the Median MVRV, a completely new set of BTC bull peak and bear bottom pricing indicators can be obtained (as shown in the figure above)
The power of iteration, adding Bitcoin chain on short-term holder MVRV deviation-corrected bull top pricing indicators, a total of eight major BTC bull top pricing indicators gathered🫡
It is worth mentioning that—— In mid-2011, the bull top, the price broke through 5 lines In the first top of 2013, the price broke through 5 lines In the second top of 2013, the price broke through 7 lines At the end of 2017 bull top, the price broke through 7 lines In the first half of 2021 top, the price broke through 5 lines
In the 16-year bull market, this indicator peaked 354 days before the bull market top at the end of 2017. In the 20-year bull market, this indicator peaked 352 days before the bull market top in the first half of 2021. In the 24-year bull market, this indicator peaked 57 days ago.
The upper indicator in the chart represents the BTC price; the lower indicator represents the proportion of BTC that has not moved on-chain for 6-12 months (weighted by Realized Cap, using a 7-day MA).
It is worth mentioning that historically, during this period, the cryptocurrency price has experienced three major corrections (indicated by the blue arrows in the chart).
[20241130 | BTC Market Monthly Report] The bull market is a great retreat
First, let’s review the BTC: RHODL indicator that we highlighted in the previous monthly report (October 18, 2024). This indicator is the ratio of “the number of BTC held on the chain for 1 week” to “the number of BTC held on the chain for 1-2 years”, which is used to reflect the volatility of short-term chips relative to the performance of long-term chips.
Historically, before and after the halving, the RHODL indicator will experience long-term fluctuations, and the coin price will also be sideways in the same period. The previous monthly report mentioned that the indicator and the coin price have been sideways for nearly 8 months, and it is possible to break through at any time. The latest situation of this indicator is shown in the figure below👇
Currently, Line4 has been broken, the next target is Line5😎($147553)
The chart shows the newly developed Bitcoin Fibonacci-Terminal pricing model, which uses 5 lines to encompass the entire historical price of the coin from the lowest to the highest point, with each line based on the Fibonacci sequence (3, 5, 8, 13, 21) and designed according to the Bitcoin Transferred Price.
Blindly holding for 17 & 21 years, the bull market may have 4-7 months left😎
The indicator at the top of the chart is the BTC price; the indicator at the bottom shows the percentage of BTC held by long-term holders out of the total BTC supply.
The indicator at the top of the chart is the #BTC price, and the indicator at the bottom is the percentage of #BTC that has moved on-chain in the last 180 days (weighted by Realized Cap).
Mid-2011 Bull Top, the price broke through 6 lines First Top of 2013, the price broke through 5 lines Second Top of 2013, the price broke through 7 lines End of 2017 Bull Top, the price broke through 8 lines First Half of 2021 Top, the price broke through 5 lines
One more thing to add, the upper and lower limits of the fitted upper and lower limits of BTC: MVRV can be obtained by multiplying BTC: Realized Price to get the upper and lower limits of Bitcoin K-line (as shown in the figure)
I have always ignored this point, and now I have combined it into nine BTC bull market escape indicators😌
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CryptoChan
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【BTC Precise Peak and Bottom Series】 Using y = a + b * e^(c * x) to fit the historical peaks (red arrows in the figure) and historical troughs (green arrows in the figure) of the BTC: MVRV indicator, and dividing it into 6 intervals from 0-100 using an oscillation indicator.
= 100 indicates an extreme bull peak or a precise escape from the peak; = 0 indicates an extreme bear trough or a precise entry at the bottom.
Currently, the score of this indicator is 79, falling within the excitement range.
【BTC Precise Peak and Bottom Series】 Using y = a + b * e^(c * x) to fit the historical peaks (red arrows in the figure) and historical troughs (green arrows in the figure) of the BTC: MVRV indicator, and dividing it into 6 intervals from 0-100 using an oscillation indicator.
= 100 indicates an extreme bull peak or a precise escape from the peak; = 0 indicates an extreme bear trough or a precise entry at the bottom.
Currently, the score of this indicator is 79, falling within the excitement range.