Bitcoin recently flashed an extremely bullish technical signal that has preceded enormous price surges in the past, according to prominent crypto analyst Ali
Specifically, Bitcoin’s realized price has moved above its long-term holder realized price. The realized price is an estimate of the average price at which existing BTC was last moved on-chain, while the long-term holder realized price only looks at coins that haven’t moved in at least 155 days.
When the overall realized price surpasses the long-term holder realized price, it indicates new buyers are willing to pay up for Bitcoin at rapidly appreciating prices. According to Ali, the last three times this confirmation signal appeared, it preceded gigantic Bitcoin rallies:
- First signal: Bitcoin skyrocketed 12,736%
- Second signal: Bitcoin exploded 4,474% higher
- Third signal: Bitcoin surged 819%
So if history rhymes, Bitcoin could be in the early stages of a truly parabolic advance.
This indicator flashing bullish comes as Bitcoin is already building momentum. BTC is up over 15% in the past week alone, rallying back above the key $20,000 level to over $44,000 at the time of writing.
Between the bullish momentum and this historically reliable technical signal, the stage seems set for Bitcoin to leave its 2022 bear market firmly in the rearview. If the leading cryptocurrency follows past patterns, we could see a rally measuring in the thousands of percent ahead.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
