“Favorite” Bitcoin (Bitcoin) The price signal may be about to turn bullish-data shows that an increase will always occur.
As famous Podcast host Preston Pysh reported on October 18 that the long-term and short-term holders realized price ratio (LTHSTH-RPR) looks ready to print the bull flag.
The chart hints at the return of bulls
This may sound wordy, but LTHSTH-RPR is one of the most accurate Bitcoin price indicators. Its creator and Bitcoin 2021 conference organizer Dylan LeClair (Dylan LeClair) confirmed his bullish attitude based on readings in late September.
“TLDR: Short-term: The lower the long-term realized price ratio, the more bullish I am,” he wrote in his explanation Twitter topic.
“In the end, all bears will die.”
Now, as the indicator has been on a downward trend for several months, it is time for a rebirth-BTC/USD has always benefited from it.
Behind the scenes, LTHSTH-RPR shows the cost basis for long-term holders and short-term holders. On-chain analytics company Glassnode defines long-term holders as addresses that hold tokens that have not moved for at least 155 days.
“When the STH:LTH realized price ratio increases, it means that the STH cost base is increasing relative to the LTH cost base, and vice versa,” LeClair added.
“When marginal sellers are exhausted, BTC will go up. That’s why you will see that the cost base of LTH remains stagnant during an explosive bull market, while the cost base of STH (many of which are new market participants) will explode—not at all Enough tokens are available.”
So far, the LTH cost basis has not been overshadowed by the STH cost basis-when this happens, the current downward trend should end.
“Only up” is still a narrative
As Cointelegraph Report, LTHSTH-RPR is just one of many BTC price indicators that have boosted bulls in recent weeks.
From on-chain indicators to network basics, and even Pure mathematics Indicates that Bitcoin is about to rise further-it is widely expected that in the fourth quarter of this year after the halving event.