Bitcoin (BTC) Indicator Finding All Peaks and Bottoms is "Green"!

Another indicator in the cryptocurrency leader Bitcoin (BTC) has taken its place in the buying zone.

While the cryptocurrency giant Bitcoin fell below $20,000 again, raising the level of fear in the market, the $19800 level is closely monitored as it represents the 2017 peak. When BTC fell to $18,000, 5 indicators remained in the buy zone, while one more indicator recorded a bottom signal. According to the "Net unrealized profit/loss" (LTH-NUPL) chart of long-term Bitcoin wallets published by Glassnode, the market has re-entered the capitulation zone. Looking at the chart above, Bitcoin (BTC) peaks when the indicator exits the blue zone (greed). The real bull market starts at the entrance to the blue zone. The first time we enter this zone is the beginning of the bull and the first time we exit it is the end. While this chart worked very well in 2012, 2013, 2014 and 2017, it is observed that it descended back to the red zone after each peak, except for 2013. According to this chart, the orange and red zones point to very good buying opportunities in Bitcoin and altcoins. These days, this zone dominates again. In 2015, it stayed in the "red" zone for about 8 months and in 2018 for about 4 months.  Therefore, although this data signals a bottom, it is stated that it cannot be interpreted as a sharp rise will come from here immediately. However, when we look at the previous movements, it is stated that Bitcoin is very close to the bottom of the bear market, and if the current price level is not the bottom, a last "dump" that may occur will be a great buying opportunity. Experts emphasize that the analyzes made according to such indicators are made for the determination of the general direction of the market and for the long term.  Short-term fluctuations are not the subject of this analysis. The investment information, comments and recommendations in this article do not constitute investment advice. Investment advisory services are provided individually, taking into account the risk and return preferences of individuals. The content contained herein is in no way directive and the recommendations are general in nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!