Read on Twitter
1/5 A small thread 
with 4 indications that we might have seen or be close to the end of the current #Bitcoin 
dip
Included charts: SOPR, GBTC premium, BPT + BPT/M2 & comparison with 2017 dips
with 4 indications that we might have seen or be close to the end of the current #Bitcoin dipIncluded charts: SOPR, GBTC premium, BPT + BPT/M2 & comparison with 2017 dips
2/5 The Spent Output Profit Ratio (SOPR) quantifies if the daily sold #Bitcoin were in a profit (>1) or loss (<1)
The SOPR just reset to 1
Under
market conditions, this has historically been a key support level, as few market participants are prepared to sell at a loss
were in a profit (>1) or loss (<1)The SOPR just reset to 1
Under
market conditions, this has historically been a key support level, as few market participants are prepared to sell at a loss
3/5 The Grayscale premium has dropped to 1.63%
This is the lowest since October 2015, with only March 2017 (early market phase) coming close
This is an opportunity for institutional investors that use $GBTC as a vehicle, who don't hesitate to buy: https://twitter.com/dilutionproof/status/1352169812466741248?s=20
This is the lowest since October 2015, with only March 2017 (early
market phase) coming closeThis is an opportunity for institutional investors that use $GBTC as a vehicle, who don't hesitate to buy: https://twitter.com/dilutionproof/status/1352169812466741248?s=20
4/5 Both the #Bitcoin Price Temperature & the M2 inflation corrected version recently hit the BPT6 band that offered clear resistance during the early phase of the 2017 cycle
Both have now cooled off considerably since then, also to a similar degree as the pull-backs in 2017
Price Temperature & the M2 inflation corrected version recently hit the BPT6 band that offered clear resistance during the early phase of the 2017 cycleBoth have now cooled off considerably since then, also to a similar degree as the pull-backs in 2017
5/5 During 2017, there were six 29-38% dips on the way up
The current dip is now -31.43% since the $42k ATH
All interpretations in this assume that cycles will be similar, which isn't necessarily the case. If you are convinced they will, this might be a BTFD opportunity
The current dip is now -31.43% since the $42k ATH
All interpretations in this
assume that cycles will be similar, which isn't necessarily the case. If you are convinced they will, this might be a BTFD opportunity
