{"id":130226,"date":"2020-12-10T13:07:48","date_gmt":"2020-12-10T10:07:48","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-undervalued-sub-20k-says-new-report-as-btc-mimics-2017-bull-run\/"},"modified":"2020-12-10T13:07:48","modified_gmt":"2020-12-10T10:07:48","slug":"bitcoin-undervalued-sub-20k-says-new-report-as-btc-mimics-2017-bull-run","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-undervalued-sub-20k-says-new-report-as-btc-mimics-2017-bull-run\/","title":{"rendered":"# Bitcoin undervalued sub-$20K, says new report as BTC mimics 2017 bull run"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36896a9ef78\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36896a9ef78\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-undervalued-sub-20k-says-new-report-as-btc-mimics-2017-bull-run\/#Report_You_can_buy_BTC_but_%E2%80%9Cnot_for_long%E2%80%9D\" >Report: You can buy BTC, but &#8220;not for long&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-undervalued-sub-20k-says-new-report-as-btc-mimics-2017-bull-run\/#19400_proves_stubborn_resistance\" >$19,400 proves stubborn resistance<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin undervalued sub-$20K, says new report as BTC mimics 2017 bull run <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) investors have \u201cnot long\u201d to accumulate before a continuation of the bull run past $20,000, a new report says.<\/p>\n<p>Released on Dec. 10, the Weekly Report from Asian crypto fund provider <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/stackfunds.com\/\">Stack Funds<\/a> predicts that one indicator in particular will follow historical precedent and propel Bitcoin higher.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Report_You_can_buy_BTC_but_%E2%80%9Cnot_for_long%E2%80%9D\"><\/span>Report: You can buy BTC, but &#8220;not for long&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to Slack, the market cap to thermo cap ratio (MCTC) is showing signs of repeating its performance in 2017, the year in which BTC\/USD went from under $1,000 to $19,866 on Coinbase.<\/p>\n<p>MCTC takes a snapshot of Bitcoin\u2019s market cap, then divides it by miners\u2019 total revenue since mining began \u2014 the thermocap.<\/p>\n<p>As of this week, MCTC is around 17, mimicking mid-2017 and lingering in a position from which it has twice heralded the start of a bull market.<\/p>\n<p>\u201cThe ratio is currently sitting at the 17 level, which coincides with its 2019 peak. In addition, the value is adjacent to its 2017 breakout, where it whipsawed around the 20 handle before Bitcoin&#8217;s rally materialized,\u201d the report commented. <\/p>\n<p>In its current position, there is thus considerable room for maneuver upwards, which leads Stack to assume that bullish progress will soon continue.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/f1744daa-7234-4860-ab76-e44748847e94.jpg\"><figcaption style=\"text-align: center;\"><em>Bitcoin MCTC ratio historical chart. Source: Stack Funds<\/em><\/figcaption><\/figure>\n<p>\u201cGiven that the ratio is still at its lower band, we are skewed to believe accumulation opportunities persists, but not for long before the $20,000 price breakout materializes,\u201d it summarized.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"19400_proves_stubborn_resistance\"><\/span>$19,400 proves stubborn resistance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin has rebounded over the past 24 hours after sudden weakness ended a period of price consolidation to rekindle lows under $18,000.<\/p>\n<p>At press time, BTC\/USD circled $18,300, with traders watching for signs of definitive support returning. <\/p>\n<p>As Cointelegraph reported, however, little sign of definitive buyer support above $16,200 is evident from exchange orderbooks, with $20,000 still remaining a make-or-break resistance level.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<p>For Cointelegraph Markets analyst Micha\u00ebl van de Poppe, $19,400 is the high water mark to watch for real confirmation that the current bearish scenario is over.<\/p>\n<p><iframe loading=\"lazy\" title=\"Bitcoin Price Holds $17,700 But Is The Bull Back?\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/oPjRIBbz0qU?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>\u201cIf we want to get this bullishness and attack the all-time high again, I\u2019d want to see a break above this block,\u201d he summarized in an update on Thursday.<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-undervalued-sub-20k-says-new-report-as-btc-mimics-2017-bull-run\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin undervalued sub-$20K, says new report as BTC mimics 2017 bull run &#8221; Bitcoin (BTC) investors have \u201cnot long\u201d to accumulate before a continuation of the bull run past $20,000, a new report says. Released on Dec. 10, the Weekly Report from Asian crypto fund provider Stack Funds predicts that one indicator in particular&#8230;<\/p>\n","protected":false},"author":1,"featured_media":130227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/0fdad9c3-47cf-413b-a5d9-b6a7ee392ec6.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-130226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/130226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=130226"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/130226\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/130227"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=130226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=130226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=130226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}