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Bitcoin Crucial Metric Surge Revealed, At Least 890% BTC Spike on Horizon

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Wed, 6/12/2023 - 15:45
Bitcoin Crucial Metric Surge Revealed, At Least 890% BTC Spike on Horizon
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Crypto analyst and trader Ali Martinez has published an optimistic tweet about Bitcoin, where he shared another bullish confirmation signal.

Martinez stated that over the last three years this bullish signal has managed to propel Bitcoin to impressive new price highs.

“Bullish sign shows confidence in BTC future performance”

Ali Martinez tweeted that the Bitcoin Realized Price indicator has surpassed another important metric – the Long-Term Holder Realized Price. According to Ali’s explanation, this means that the cryptocurrency market is gaining momentum and new investors are pouring in, actively accumulating Bitcoin at higher prices than before.

Ali said that this is a bullish sign for Bitcoin as it shows “confidence in BTC future performance.” He pointed out that the last three times this event happened in the history of Bitcoin, BTC staged an 819%; 4,474% and shocking 12,736% increase in price.

Bitcoin Realized Price index shows the value of all BTC at the price that it was last moved on-chain divided by the amount of BTC circulating on the market. This, in total, shows the “average cost basis” at which all those BTC were bought. This is another way to describe the BTC Realized Price.

Basically, this index shows the average price of all circulating Bitcoins. However, it is worth noting that the Realized Price index shows the value of each Bitcoin UTXO when it was last transferred from one blockchain address to another.

As for the Long-Term (LTH) Holder Realized Price, it is the average price of the Long-Term Holder BTC supply that was valued on the day each coin was last moved on-chain.

Related
Bitcoin (BTC) Still Targets $1 Million, Per Samson Mow, As He Says Balaji Srinivasan Got Timing Wrong

Samson Mow voices his $1 million Bitcoin forecast

Jan3 chief Samson Mow has recently said on Twitter/X several times that he believes Bitcoin is able to ultimately reach the $1,000,000 level.

According to a tweet published earlier today, he believes that Bitcoin rapidly surging since a lot of institutional money is being poured into BTC at low prices. Since the available amount of BTC is sharply declining but the demand for it remains strong, the BTC price is soaring.

Earlier today, Bitcoin surpassed the $44,000 level, now exchanging hands at $43,989 after rising by more than 4% over the past 24 hours.

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