BTCUSD on TradingView.com<\/a><\/pre>\nBitcoin price is trading at approximately $17,000 per coin, or roughly 77% down from all-time highs. Past drawdowns concluded at 96%, 86%, and 84%. What will the final number be for this market cycle?<\/p>\n
Featured image from iStockPhoto, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"Calling the bottom in Bitcoin is no easy task. Prices tend to fall more dramatically and faster than anyone is prepared for and is the investing equivalent of catching a falling knife. Yet if anyone is equipped to accurately call the bottom in crypto, it would be Charles Edwards, fund manager and Bitcoin fundamental expert, responsible for creating some of the most famous tools in crypto.\u00a0 Meet The Creator Of The Most Profitable Bitcoin Buy Signal Although you might not know Charles Edwards by name, you might have heard of some of his tools before. The Hash Ribbons, once known as the most profitable signal in Bitcoin ever, is among his custom toolset of crypto-specific indicators.\u00a0 Related Reading: Bitcoin At $1,000: Looking Back At Nine Years Of Bull Run In a recent Twitter thread, Edward unveils a series of on-chain signals that present a strong case as to why the bear market bottom in crypto could be in.\u00a0 Among the arguments made include the price per BTC dropping below the electrical cost of generating each coin, plus MVRV-Z score and long-term NUPL are at previous bear market lows.\u00a0 Bitcoin briefly traded below its electrical cost\u00a0| Source: BTCUSD on TradingView.com On-Chain Cases For The Bear Market Bottom Being In Entity-adjusted dormancy flow is at an all-time low, and we\u2019ve reached the third-highest BTC miner stress event ever. Past events were back when BTC traded at $290 and $2. Bitcoin Energy Value is also at the deepest price discount it\u2019s ever seen.\u00a0 Entity-adjusted dormancy flow is at the lowest level ever | Source: Glassnode Edwards also cites that stablecoin capital is sidelined in USDT and USDC and hasn\u2019t left the industry due to FTX \u2014 its just waiting for a reversal to reenter safely.\u00a0 He also points to miner capitulation in the Hash Ribbons.\u00a0 Related Reading: For First Time Ever, Bitcoin Hash Ribbon Golden Cross Has Failed The only problem is that the last time the tool fired, the previously profitable signal failed to yield any positive results for the first time since it was created.\u00a0Will this signal redeem the indicator? Will this coming buy signal do the trick? | Source: BTCUSD on TradingView.com Bitcoin price is trading at approximately $17,000 per coin, or roughly 77% down from all-time highs. Past drawdowns concluded at 96%, 86%, and 84%. What will the final number be for this market cycle? Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":511420,"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":[1119,1144,78790,60667],"class_list":["post-511413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btc","tag-btcusd","tag-btcusdt","tag-charles-edwards"],"acf":[],"yoast_head":"\n
Bitcoin Fundamental Expert Breaks Down Why The Bottom Is In<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n