{"id":456769,"date":"2022-06-02T22:13:40","date_gmt":"2022-06-02T19:13:40","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/this-classic-bitcoin-metric-is-flashing-buy-for-first-time-since-march-2020\/"},"modified":"2022-06-02T22:13:40","modified_gmt":"2022-06-02T19:13:40","slug":"this-classic-bitcoin-metric-is-flashing-buy-for-first-time-since-march-2020","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/this-classic-bitcoin-metric-is-flashing-buy-for-first-time-since-march-2020\/","title":{"rendered":"# This classic Bitcoin metric is flashing buy for first time since March 2020"},"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-6a3bf055a2305\" 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-6a3bf055a2305\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/this-classic-bitcoin-metric-is-flashing-buy-for-first-time-since-march-2020\/#%E2%80%9D_This_classic_Bitcoin_metric_is_flashing_buy_for_first_time_since_March_2020_%E2%80%9C\" >&#8221; This classic Bitcoin metric is flashing buy for first time since March 2020 &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/this-classic-bitcoin-metric-is-flashing-buy-for-first-time-since-march-2020\/#%E2%80%9CGenerational_zone%E2%80%9D_enters_for_Bitcoins_Investor_Tool\" >&#8220;Generational zone&#8221; enters for Bitcoin&#8217;s Investor Tool<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/this-classic-bitcoin-metric-is-flashing-buy-for-first-time-since-march-2020\/#Hayes_%E2%80%9Cmore_confident%E2%80%9D_of_25000_bottom_after_LFG_BTC_sales\" >Hayes &#8220;more confident&#8221; of $25,000 bottom after LFG BTC sales<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_This_classic_Bitcoin_metric_is_flashing_buy_for_first_time_since_March_2020_%E2%80%9C\"><\/span>&#8221; This classic Bitcoin metric is flashing buy for first time since March 2020 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) bulls may only need a pair of simple moving averages (SMAs) to determine if the bottom is in this halving cycle.<\/p>\n<p>In a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> thread on June 2, Checkmate, lead on-chain analyst at crypto analytics firm Glassnode, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/_Checkmatey_\/status\/1532303791399346176\/photo\/1\">flagged<\/a> the Investor Tool metric <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/studio.glassnode.com\/workbench\/e9e05fce-ce4b-4138-5736-5d2bfadfdf94?s=1326839520&amp;u=1654128000&amp;zoom=\">hitting<\/a> \u201cbuy the dip\u201d territory.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CGenerational_zone%E2%80%9D_enters_for_Bitcoins_Investor_Tool\"><\/span>&#8220;Generational zone&#8221; enters for Bitcoin&#8217;s Investor Tool<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Investor Tool is a simple yet effective BTC price metric showing the potential for buyers to enjoy \u201coutsized\u201d returns.<\/p>\n<p>Its creator, LookIntoBitcoin founder Philip Swift, aimed to deduce when BTC\/USD is likely overbought or oversold.<\/p>\n<p>The metric uses the two-year SMA and its 5x multiple. The two lines are plotted against spot price and have historically performed well at catching both generational tops and bottoms.<\/p>\n<p>Now, BTC\/USD is below the two-year SMA for the first time since March 2020, having crossed the line around one week before the Terra LUNA, now known as Luna Classic (LUNC),\u00a0debacle sent Bitcoin to ten-month lows.<\/p>\n<p>\u201cBitcoin Simple Moving Averages are edge when navigating bear markets,\u201d Checkmate commented, adding that it had \u201centered the generational zone.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/be6c9152-aebb-4170-ab29-032728dd0373.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin Investor Tool chart. Source: Glassnode<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Hayes_%E2%80%9Cmore_confident%E2%80%9D_of_25000_bottom_after_LFG_BTC_sales\"><\/span>Hayes &#8220;more confident&#8221; of $25,000 bottom after LFG BTC sales<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While Bitcoin bulls are hardly out of the woods at $30,000, the Investor Tool&#8217;s readings strengthen a narrative that is only just beginning to emerge among analysts.<\/p>\n<p><strong><em>Related: $32K Bitcoin price could turn the tides in Friday\u2019s $160M BTC options expiry<\/em><\/strong><\/p>\n<p>As Cointelegraph reported, Arthur Hayes, former CEO of derivatives giant BitMEX, this week suggested that May&#8217;s Terra-inspired <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a> to $23,800 may in fact mark a long-term BTC price floor after all.<\/p>\n<p>Despite a large number of predictions calling for a crash to as low as $14,000, historical patterns may yet play a role in securing Bitcoin at or near current levels.<\/p>\n<p>Even the Terra episode, itself, in which nonprofit the Luna Foundation Guard (LFG) liquidated 80,000 BTC, could have cemented solid support, Hayes <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/entrepreneurshandbook.co\/shut-it-down-15d230b28089\">wrote<\/a>.<\/p>\n<p>&#8220;At the bottom, a typically impervious strong hand can be forced to sell because of uneconomical arrangements festering in their trading books. The LFG is such a seller. To puke 80,000 physical Bitcoin is quite a feat,&#8221; he explained. <\/p>\n<blockquote><p>&#8220;After contemplating the nature in which these Bitcoins were sold, I am even more confident that the $25,000 \u2014 $27,000 zone for Bitcoin is this cycle\u2019s bottom.&#8221;<\/p><\/blockquote>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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\">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\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/this-classic-bitcoin-metric-is-flashing-buy-for-first-time-since-march-2020\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; This classic Bitcoin metric is flashing buy for first time since March 2020 &#8220; Bitcoin (BTC) bulls may only need a pair of simple moving averages (SMAs) to determine if the bottom is in this halving cycle. In a Twitter thread on June 2, Checkmate, lead on-chain analyst at crypto analytics firm Glassnode, flagged&#8230;<\/p>\n","protected":false},"author":1,"featured_media":456770,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvZTc2ZWJmNmUtNDdlYy00MDcyLTgxNTYtZmVjOWY5NWJlNzUxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-456769","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\/456769","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=456769"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/456769\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/456770"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=456769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=456769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=456769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}