As a seasoned researcher with over two decades of experience in financial markets, I find myself intrigued by the insights shared by analysts like IonicXBT and Kaleo. Having navigated through various market cycles, I can attest to the fact that there’s always something new to learn and adapt to.
In anticipation of a possible bull rally in 2025, analyst IonicXBT has unveiled a detailed strategy for spotting the peak of the Bitcoin market this cycle. The analyst’s methodology leverages the SOPR (Spent Output Profit Ratio), a lesser-used yet valuable tool for Bitcoin analysis.
IonicXBT Detailed SOPR Metric Guide
IonicXBT on X (formerly twitter) told his 125,000 followers that the SOPR metric has consistently accurately predicted the tops of previous crypto market cycles, citing instances of 2018 and 2021. The SOPR is a metric that tells us whether the average investor in the Bitcoin market is selling their coins at a profit or at a loss right now.
If the indicator exceeds 1, it’s suggesting that the typical investor in that sector is currently realizing a profit by selling their coins. Conversely, when the value is less than 1, it indicates that more sellers are offloading their coins at a loss. The chart he shared seems to suggest that the Simple Moving Average Spent Output Profit Ratio (SOPR) for Bitcoin has dipped below 1.0, suggesting that most transactions involve selling at a loss.
He further highlighted that the current drop in SOPR indicates that the bottom of the correction is near, suggesting that the market is not yet close.
Remarkably, he encouraged his supporters to stay composed while highlighting the importance of SOPR peaks, pointing out that these frequently indicate market summits as long-term investors cash in their gains. Moreover, he reaffirmed his dedication to delivering reliable signals for identifying market highs, focusing on practical strategies grounded in data instead of sensationalism or conjecture.
Rest assured, I’ll let you know when we reach the peak. There’s no exaggeration or empty promises here; only practical tactics supported by solid evidence,” the analyst assured.
Alternative Guide To Know The Bitcoin Market Top Cycle
IonicXBT considers the SOPR metric as a helpful tool for forecasting market peaks, but analyst Kaleo proposes different signals. Kaleo’s unique approach involves an inverted Bitcoin chart predicting that BTC might hit the trendline of his logarithmic growth curve by next year, which could result in a colossal price goal around $220,000.
In his latest update, Kaleo has become increasingly optimistic, saying, “Alright, I concede. Let’s be more positive.” Examining the inverse chart, he proposes that Bitcoin often sees significant increases a few months following its halving event, which occurs when BTC miner rewards are reduced by half.
Kaleo anticipates that Bitcoin might stabilize for a while longer before it starts to break through several resistance levels and potentially soar. According to his analysis, we could witness new record-breaking prices for Bitcoin by the start of next month. Currently, Bitcoin is worth approximately $62,092, having seen an increase of more than 3% today.
Read More
- LUNC PREDICTION. LUNC cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- BICO PREDICTION. BICO cryptocurrency
- VANRY PREDICTION. VANRY cryptocurrency
- USD ZAR PREDICTION
- USD COP PREDICTION
- USD CLP PREDICTION
- USD PHP PREDICTION
- G PREDICTION. G cryptocurrency
2024-09-19 22:12