cryptd.in

另类 LinkedIn 适合加密人才

Bitcoin Is About To See A Historically-Profitable Crossover In This Metric

-

由

于

On-chain data shows the Bitcoin Puell Multiple is about to undergo a crossover that has historically been very bullish for BTC’s price.

Bitcoin Puell Multiple Could Cross Its 365-Day MA In Near Future

As pointed out by an analyst in a CryptoQuant Quicktake 邮寄, the Bitcoin Puell Multiple has been approaching its 365-day moving average (MA) recently. The “Puell Multiple” here refers to a popular on-chain indicator that tells us about how the revenue of the Bitcoin miners compares against its yearly average.

BTC miners earn their income through two sources, the transaction fees and the block subsidy, but in the context of the Puell Multiple, only the latter is relevant. Block subsidy is the reward miners receive as compensation for adding blocks to the network.

When the indicator’s value is greater than 1, it means the miners are currently making a higher revenue than the average for the past year. On the other hand, it being under the threshold suggests the miners are earning less than usual.

Now, here is a chart that shows the trend in the Bitcoin Puell Multiple, as well as its 365-day MA, over the last few years:

Bitcoin Puell Multiple

As displayed in the above graph, the Bitcoin Puell Multiple had plunged under the 1 mark earlier in the year, but recently, its value has seen a sharp rise back towards the mark.

The reason behind the earlier plummet was the occurrence of the fourth BTC Halving. “Halvings” are events coded into the blockchain that automatically shave off the asset’s block subsidy in half every four years.

As the Puell Multiple keeps track of the block subsidy, it naturally makes sense that the Halving would drastically affect the ratio’s value. Outside of the Halvings, the block subsidy remains constant in BTC value and is more or less given out at a constant rate.

However, the ratio’s value can still change at times other than Halvings because it measures the USD value of the miner revenue. The rewards that miners get are in BTC and so, their value is also tied to the USD rate of the asset.

With the cryptocurrency observing a sharp rally recently, the miner revenue seems to be back to the same as the 365-day MA. The 1 mark isn’t the only important level the Puell Multiple has risen to; it is now near its 365-day MA.

In the chart, the quant highlighted what happened the last three times the metric broke above this line. It would appear that the asset went on to rally at least 76% each time.

It remains to be seen whether the Puell Multiple could break above this line, potentially giving a bullish signal for Bitcoin, or if the retest would fail.

BTC Price

Bitcoin has recently witnessed a cooldown in bullish momentum as its price has fallen to a sideways movement. At present, BTC is trading at around $91,900.

Bitcoin Price Chart

评论

发送留言

發佈留言必須填寫的電子郵件地址不會公開。 必填欄位標示為 *

最新信息

热门类别

zh_TW 繁體中文
zh_TW 繁體中文 en_US English ro_RO Română et Eesti ko_KR 한국어 ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español zh_CN 简体中文 fr_FR Français pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

搜索网站

热门故事

标签

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #Bitcoin (293) #BitcoinETF (3) #itcoinFundamentals (1) # 比特币处理 (1) # 比特币价格 (5) # 比特币价格水平 (1) #BitcoinPump (1) #BitcoinReserve (1) #BitcoinSurge (1) #itcoinTop (1) #Bitfinex (1) #Bitwise (1) #BracebridgeCapital (1) #BRC20Tokens (1) #BTC 收购 (1) 1TP5 看涨预测 (1) #BullishSentiment (1) #C 中国矿业 (1) #CPIPreview (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (4) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulation (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (54) #ogecoinGains (1) #ogecoinVolume (1) #DutchCourt (2) #ECommerce (1) #El萨尔瓦多比特币 (1) #E以太坊 (59) #EthereumPain (1) #E以太坊价格 (1) #ExpertOpinion (1) #FedRateCut (1) #FiatCurrency (1) #F 财务影响 (1) #F 财务隐私 (1) #FirmShutdown (1) #FrozenAccounts (1) #IllicitFunds (1) #InflationData (1) #Investment (1) #InvestmentLoss (1) #JapaneseFirm (1) #L LegalAction (1) #L 法律影响 (1) #Legislation (1) #LightningNetwork (1) #M 市场分析 (3) #M 市场监测 (1) #M 市场预测 (1) #M 市场预测 (1) #M 市场投影 (1) #M 市场支持 (1) #M 市场波动性 (1) #M 婚姻 (1) #MemeCoin (5) #MemeCoins (2) #Miner 盈利能力 (1) #M 洗钱 (2) #MtGox (3) #朝鲜加密货币 (1) #诺沃格拉茨预测 (1) 1TP5价格里程碑 (1) #P 价格预测 (2) 1TP5价格问题 (1) #PriceSurge (1) #PrisonSentence (1) # 量化分析 (1) #R 监管压力 (1) #SECA Anti-Crypto (1) #ShibaInu (4) #SocialBuzz (1) #T 技术分析 (1) #Toncoin (3) #T 龙卷风现金 (3) #T 龙卷风现金发展项目 (1) #T 龙卷风现金开发者 (1) #UKCrypto (1) #UpsidePotential (1) #USCongress (1) #WyomingLand (1) #XRPPrice (1) #XRPupswing (1)

实用链接

我发现了一些有用的链接，希望与大家分享。