Prominent analyst: Such an indicator shows that the price of Bitcoin has reached the bottom

One of the digital currency market analysts says that two such (in-chain) indicators indicate that Bitcoin has reached the price floor of its downward trend or is close to it.

To Report Citing such a historically reliable indicator, cryptocurrency analyst Benjamin Cowen says Bitcoin’s price has bottomed or is near it, DailyHoddle says.

In his recent interview with Kitco News, Kavan pointed to the graph of Bitcoin’s supply in profit and loss, which show how much of the supply of this digital currency is a profit for holders and how much is a loss. Created.

The popular analyst says that the measure of bitcoins in circulation has historically been associated with long-term price tops and bottoms.

He went on to say that if we see another price crash or mass selling of holders, this indicator will clearly show that the price of Bitcoin has bottomed out.

Coen says:

I find some charts more interesting than others, such as profit and loss circulating supply. Historically, one of the interesting things about this chart is that Bitcoin will not bottom until they intersect. These two indicators crossed each other yesterday. They crossed each other yesterday for the first time in the current price cycle. Here you can see a periodic pattern of profit and loss bitcoin supply. After these two cross each other, the price of Bitcoin will reach the bottom.

This analyst continues:

This point is usually when you want to reduce your capital (try to sell), when Bitcoin will continue to try to reach its highest price level. So in my opinion, this indicator shows, along with many other evidences, that if we experience another drop in price, Bitcoin will bottom out.