Hi guys,
I wanted to share this article, because they speak about a possible Bullish scenario:
The cost basis term is often used to describe the average entry price of investors into an asset. The short-term holder cost basis shows that the average entry of short-term Bitcoin holders is currently at $47,000.
I did not know the baseline of cost and what it implies,
Whenever the short-term cost basis crosses the HODLer Implied Price, investors receive either bullish or bearish signals, depending on the direction of a cross. In the current case, if Bitcoin continues to drop further, the market will most likely dive deeper as selling pressure from short-term traders aggravates.
Source:
https://u.today/bitcoin-bullish-scenario-possible-after-reaching-47000-blockware-analystSome metrics are something demonstrable for people's emotions, for example extreme fear is one of the causes that in this article make.
On the other hand Bitcoincharts also made a very interesting RT:
Twitter:
https://twitter.com/therationalroot/status/1518907812704882688It seems to show that there are increasingly longer cycles as time passes.
