{"id":549151,"date":"2023-08-28T20:00:39","date_gmt":"2023-08-28T20:00:39","guid":{"rendered":"https:\/\/wncen.com\/?p=549151"},"modified":"2024-06-11T08:05:49","modified_gmt":"2024-06-11T08:05:49","slug":"bitcoin-bull-run-incoming-metric-could-suggest","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-bull-run-incoming-metric-could-suggest\/","title":{"rendered":"Bitcoin Bull Run Incoming? This Metric Could Suggest So"},"content":{"rendered":"

On-chain data shows a Bitcoin metric is forming a pattern that may hint that a bull run could be coming next for the asset.<\/p>\n

Bitcoin HODLer Growth Rate Has Seemingly Reached The “Plateau” Stage<\/h2>\n

In a new post<\/a> on X, the analyst Charles Edwards shared a chart highlighting a pattern that the BTC “HODLer Growth Rate” indicator may be forming.<\/p>\n

This indicator keeps track of the 1-year growth in the holdings of the Bitcoin investors who have been keeping their coins dormant (unmoved) in their wallets since at least two years ago.<\/p>\n

Generally, an investor who holds onto their coins for at least six months is termed a “long-term holder<\/a>” (LTH). The LTHs are market participants with a high resolve who don’t usually sell quickly, regardless of whatever happens in the rest of the market.<\/p>\n

Statistically speaking, the longer an investor keeps their coins still, the less likely they become to sell at any point. Thus, the holders who make it to the 2-year mark, which is the segment of interest in the current discussion, would then be the most persistent investors, even among these LTHs.<\/p>\n

Therefore, whatever these holders are doing can be worth keeping an eye on, as it may have ramifications for the rest of the market. Naturally, these holders aren’t too likely to exert influence in the short term (as they usually remain silent), but in the long term when the effects of their behavior could emerge.<\/p>\n

Related Reading: JP Morgan Explains Why Bitcoin Price May Not Fall Further<\/a><\/div>\n

Here is a chart that shows the trend in the Bitcoin HODLer Growth Rate for this particular segment of the LTHs over the past decade:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the value of the metric has started to move sideways in recent days | Source: @caprioleio on X<\/a><\/pre>\n
As Charles has marked in the above graph, there appears to be a specific pattern that the Bitcoin HODLer Growth Rate has followed throughout the cycles.<\/p>\n
It would seem that during bear markets<\/a>, the indicator’s value remains positive and in an uptrend, suggesting that these investors expand their holdings in such periods, and as prices dip further, they only up the pace of this accumulation.<\/p>\n
As the bear market approaches its end and a transition towards a bull market takes place, the metric’s value goes flat, implying that these investors still accumulate, although at a constant rate, rather than an accelerating one. Then, as the bull run<\/a> starts, these Bitcoin HODLers slowly stop the accumulation entirely and begin to participate in distribution instead.<\/p>\n
The analyst notes that the Bitcoin HODLer Growth Rate now appears to have finished up the rapid bear market expansion phase and is now starting to plateau sideways.<\/p>\n
Related Reading: CryptoQuant Discusses How Bitcoin Has Changed In Past 1 Year<\/a><\/div>\n
Naturally, if the pattern of the previous cycles is anything to go by, it can mean that the Bitcoin market is now in the middle of the transition towards the next bull run.<\/p>\n
BTC Price<\/h2>\n
Bitcoin remains stuck in a range as its price still trades around the $26,100 level.<\/p>\n
\"Bitcoin<\/p>\n
BTC has been consolidating since the crash | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Hans Eiskonen on Unsplash.com, charts from TradingView.com, Glassnode.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows a Bitcoin metric is forming a pattern that may hint that a bull run could be coming next for the asset. Bitcoin HODLer Growth Rate Has Seemingly Reached The “Plateau” Stage In a new post on X, the analyst Charles Edwards shared a chart highlighting a pattern that the BTC “HODLer Growth Rate” indicator may be forming. This indicator keeps track of the 1-year growth in the holdings of the Bitcoin investors who have been keeping their coins dormant (unmoved) in their wallets since at least two years ago. Generally, an investor who holds onto their coins for at least six months is termed a “long-term holder” (LTH). The LTHs are market participants with a high resolve who don’t usually sell quickly, regardless of whatever happens in the rest of the market. Statistically speaking, the longer an investor keeps their coins still, the less likely they become to sell at any point. Thus, the holders who make it to the 2-year mark, which is the segment of interest in the current discussion, would then be the most persistent investors, even among these LTHs. Therefore, whatever these holders are doing can be worth keeping an eye on, as it may have ramifications for the rest of the market. Naturally, these holders aren’t too likely to exert influence in the short term (as they usually remain silent), but in the long term when the effects of their behavior could emerge. Related Reading: JP Morgan Explains Why Bitcoin Price May Not Fall Further Here is a chart that shows the trend in the Bitcoin HODLer Growth Rate for this particular segment of the LTHs over the past decade: Looks like the value of the metric has started to move sideways in recent days | Source: @caprioleio on X As Charles has marked in the above graph, there appears to be a specific pattern that the Bitcoin HODLer Growth Rate has followed throughout the cycles. It would seem that during bear markets, the indicator’s value remains positive and in an uptrend, suggesting that these investors expand their holdings in such periods, and as prices dip further, they only up the pace of this accumulation. As the bear market approaches its end and a transition towards a bull market takes place, the metric’s value goes flat, implying that these investors still accumulate, although at a constant rate, rather than an accelerating one. Then, as the bull run starts, these Bitcoin HODLers slowly stop the accumulation entirely and begin to participate in distribution instead. The analyst notes that the Bitcoin HODLer Growth Rate now appears to have finished up the rapid bear market expansion phase and is now starting to plateau sideways. Related Reading: CryptoQuant Discusses How Bitcoin Has Changed In Past 1 Year Naturally, if the pattern of the previous cycles is anything to go by, it can mean that the Bitcoin market is now in the middle of the transition towards the next bull run. BTC Price Bitcoin remains stuck in a range as its price still trades around the $26,100 level. BTC has been consolidating since the crash | Source: BTCUSD on TradingView Featured image from Hans Eiskonen on Unsplash.com, charts from TradingView.com, Glassnode.com<\/p>\n","protected":false},"author":542,"featured_media":549157,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,85533,89244,84666,1119,1144],"class_list":["post-549151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bull-run","tag-bitcoin-hodler-growth-rate","tag-bitcoin-long-term-holders","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Bull Run Incoming? 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Bull Run Incoming? 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