{"id":485912,"date":"2022-03-14T19:00:20","date_gmt":"2022-03-14T19:00:20","guid":{"rendered":"https:\/\/ktsl888.com\/?p=485912"},"modified":"2024-06-11T13:47:04","modified_gmt":"2024-06-11T13:47:04","slug":"bitcoin-mpi-highest-value-march-2021-bull-rally","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-mpi-highest-value-march-2021-bull-rally\/","title":{"rendered":"Bitcoin MPI Rises To Highest Value Since March 2021, Bull Rally Soon?"},"content":{"rendered":"

On-chain data suggests the Bitcoin MPI indicator has observed a rise recently, now reaching the same values as March 2021. Past pattern may hint that a bull rally could follow here.<\/p>\n

Bitcoin MPI Seems To Be Catching Some Uptrend After Months Of Inactivity<\/h2>\n

As explained by an analyst in a CryptoQuant post<\/a>, the BTC MPI metric’s current trend may suggest that a bull rally could occur soon, if historical pattern is anything to go by.<\/p>\n

The “Miners’ Position Index<\/a>” (or the MPI in short) is an indicator that’s defined as the ratio of the number of all Bitcoin miners’ outflows divided by the 365-day moving average of the same.<\/p>\n

In simpler terms, what this metric tells us is how the miner selling behavior is right now compared to the average over the past year.<\/p>\n

When the value of this indicator rises, it means miners are selling more BTC recently. On the other hand, the index’s value going down implies miners are turning less active as they are moving around a lower amount of coins.<\/p>\n

Related Reading |\u00a0Buying Bitcoin Might Be Good Call For The Young, Legendary Trader Peter Brandt Says<\/a><\/em><\/strong><\/p>\n

Now, here is a chart that shows the trend in the BTC MPI over the past few years:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the value of the indicator has been on the rise recently | Source: CryptoQuant<\/a><\/pre>\n
As you can see in the above graph, the quant has marked three important regions of trend for the Bitcoin MPI since 2018.<\/p>\n
It looks like, in each of these regions the index made a U-shaped curve where the metric’s value fell as the bull period ended and rose as a new rally approached.<\/p>\n
Related Reading |\u00a0Bitcoin On Course To Hit $100K Nine Months From Now, Bitbull CEO Predicts<\/a><\/em><\/strong><\/p>\n
For many months now, the BTC MPI has been in the middle (bear) region of such a curve. But now, it looks like the indicator’s value is catching an uptrend again, and has now reached the same values as observed back in March of last year.<\/p>\n
If the historical pattern will hold true this time as well, then the current trend formation may be leading towards the start of a new bull rally<\/a>.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin’s price<\/a> floats around $38.8k, up 0.5% in the last seven days. Over the past month, the crypto has lost 8% in value.<\/p>\n
The below chart shows the trend in the price of the coin over the last five days.<\/p>\n
\"Bitcoin<\/p>\n
BTC's price seems to have been trending sideways over the last few days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Since the sharp move up and down almost a week ago, there hasn’t been any significant volatility in the price of Bitcoin.<\/p>\n
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
On-chain data suggests the Bitcoin MPI indicator has observed a rise recently, now reaching the same values as March 2021. Past pattern may hint that a bull rally could follow here. Bitcoin MPI Seems To Be Catching Some Uptrend After Months Of Inactivity As explained by an analyst in a CryptoQuant post, the BTC MPI metric’s current trend may suggest that a bull rally could occur soon, if historical pattern is anything to go by. The “Miners’ Position Index” (or the MPI in short) is an indicator that’s defined as the ratio of the number of all Bitcoin miners’ outflows divided by the 365-day moving average of the same. In simpler terms, what this metric tells us is how the miner selling behavior is right now compared to the average over the past year. When the value of this indicator rises, it means miners are selling more BTC recently. On the other hand, the index’s value going down implies miners are turning less active as they are moving around a lower amount of coins. Related Reading |\u00a0Buying Bitcoin Might Be Good Call For The Young, Legendary Trader Peter Brandt Says Now, here is a chart that shows the trend in the BTC MPI over the past few years: Looks like the value of the indicator has been on the rise recently | Source: CryptoQuant As you can see in the above graph, the quant has marked three important regions of trend for the Bitcoin MPI since 2018. It looks like, in each of these regions the index made a U-shaped curve where the metric’s value fell as the bull period ended and rose as a new rally approached. Related Reading |\u00a0Bitcoin On Course To Hit $100K Nine Months From Now, Bitbull CEO Predicts For many months now, the BTC MPI has been in the middle (bear) region of such a curve. But now, it looks like the indicator’s value is catching an uptrend again, and has now reached the same values as observed back in March of last year. If the historical pattern will hold true this time as well, then the current trend formation may be leading towards the start of a new bull rally. BTC Price At the time of writing, Bitcoin’s price floats around $38.8k, up 0.5% in the last seven days. Over the past month, the crypto has lost 8% in value. The below chart shows the trend in the price of the coin over the last five days. BTC’s price seems to have been trending sideways over the last few days | Source: BTCUSD on TradingView Since the sharp move up and down almost a week ago, there hasn’t been any significant volatility in the price of Bitcoin. Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":485927,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,85674,639,85673,640,85672,1119,1144],"class_list":["post-485912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bull-rally","tag-bitcoin-miners","tag-bitcoin-miners-position-index","tag-bitcoin-mining","tag-bitcoin-mpi","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin MPI Rises To Highest Value Since March 2021, Bull Rally Soon?<\/title>\n<meta name=\"description\" content=\"On-chain data suggests the Bitcoin MPI indicator has observed a rise recently, now reaching the same values as March 2021. 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Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin MPI Rises To Highest Value Since March 2021, Bull Rally Soon?","url":"http:\/\/ktsl888.com\/news\/bitcoin-mpi-highest-value-march-2021-bull-rally\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-mpi-highest-value-march-2021-bull-rally\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/03\/vitaly-mazur-TJNnfVBRTbg-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/03\/vitaly-mazur-TJNnfVBRTbg-unsplash-scaled.jpg?fit=2560%2C1711"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bull rally","bitcoin miners","bitcoin miners' position index","bitcoin mining","bitcoin mpi","btc","btcusd"],"dateCreated":"2022-03-14T19:00:20Z","datePublished":"2022-03-14T19:00:20Z","dateModified":"2024-06-11T13:47:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin MPI Rises To Highest Value Since March 2021, Bull Rally Soon?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-mpi-highest-value-march-2021-bull-rally\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-mpi-highest-value-march-2021-bull-rally\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/vitaly-mazur-TJNnfVBRTbg-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/vitaly-mazur-TJNnfVBRTbg-unsplash-scaled.jpg?fit=2560%2C1711\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bull rally\",\"bitcoin miners\",\"bitcoin miners' position index\",\"bitcoin mining\",\"bitcoin mpi\",\"btc\",\"btcusd\"],\"dateCreated\":\"2022-03-14T19:00:20Z\",\"datePublished\":\"2022-03-14T19:00:20Z\",\"dateModified\":\"2024-06-11T13:47:04Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/03\/vitaly-mazur-TJNnfVBRTbg-unsplash-scaled.jpg?fit=2560%2C1711","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/485912"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=485912"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/485912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/485927"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=485912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=485912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=485912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}