• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
Bitcoin Bull

As Bitcoin Breaks $50k, Indicators Show A Calm Before The Storm

Hououin Kyouma by Hououin Kyouma
1 year ago
in Bitcoin
Reading Time: 3 mins read
Advertisement

As Bitcoin retests the $50k price level, on-chain indicators seem to be aligned so that they suggest the coin might explode upwards soon.

Bitcoin Indicators May Be Showing A Calm Before The Storm

As pointed out by a CryptoQuant post, Bitcoin indicators seem to be showing some interesting values right now. Some of these even look similar to the build up to the late 2020/early 2021 rally that lead to the all-time-high (ATH).

Here is a quick explanation (along with the data) of the three relevant metrics the chart talks about:

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

The transactions count indicator shows the average number of transactions happening per block on the Bitcoin network. The below chart showcases how its value has changed recently:

Bitcoin Transactions Count

The BTC transactions count seems to be going up | Source: Blockchain.com

As the above graph shows, the value of the metric has shot up recently. This is usually a positive sign for an upside.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Related Reading | Mid-Cap Altcoins Crushed Bitcoin And Ethereum In August

The second metric, the mean tokens transferred, shows the average amount of coins transferred on the BTC chain. And the last one, the transaction fees, is pretty self-explanatory. Here is a chart explaining the trends in these indicators:

Bitcoin Indicators

The various Bitcoin chain metrics | Source: CryptoQuant 

Looking at the graph, two things appear clear. The mean tokens transferred indicator hit a new ATH of 31 BTC recently. While the transaction fees seems to have gone down and flattened in the past couple of months.

Related Reading | Why So Bearish? Fidelity Suggests Bitcoin Price Could Rise To $100 Million

Also, as the chart shows, these two trends look similar to how they did during the lead up to the bull rally that helped BTC make a new ATH.

If there is any pattern here, it looks like this might be the calm before the storm as Bitcoin could make large moves upwards soon. The fact that the crypto has shot up and broken $50k quickly might already support this.

BTC Price

At the time of writing, Bitcoin’s price is around $50k, up 6% in the last 7 days. Monthly gains for the cryptocurrency are around 30%.

Here is a chart that shows how the value of the coin has changed over the last three months:

Bitcoin Price Chart

BTC's price gains sudden upwards trend | Source: BTCUSD on TradingView

Over the past few days, it looked as though Bitcoin’s downtrend would continue for a while at least, but today the coin’s price sharply spiked up as it finally retested $50k again.

It remains to be seen if the crypto can keep the momentum up, but if the above indicators are anything to go by, signs seem to be bullish for BTC in the long term.

Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com, Blockchain.com
Tags: bitcoinBitcoin bullbtcbtcusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Hououin Kyouma

Hououin Kyouma

Loves to write, enthusiastic about cryptocurrency. Currently studying Physics at university.

Related Posts

Bitcoin U.S. institutional investors

U.S. Institutions Are Driving Bitcoin Prices, Matrixport Research

8 hours ago
Bitcoin

Bitcoin Exchange Outflows Reach Highest Value Since FTX Crash, Bullish?

13 hours ago
Bitcoin Investors Turn Greedy For First Time Since March 2022

Bitcoin Investors Turn Greedy For First Time Since March 2022

16 hours ago
Bitcoin Supply In Loss

Bitcoin Supply In Loss Hits A 9-Month Low

21 hours ago
Bitcoin Retracement

Bitcoin Hash Rate Registers New Highs, A Selloff Imminent?

22 hours ago
Bitcoin BTC

This Is How The Bitcoin Price Will Be Affected By Macro: Charles Edwards

2 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

The Meta Masters Guild Presale Generates $1.5 Million So Far With Price Hike of 23% in Next 48 Hours.

January 27, 2023

Top Experts Compare Treshold (T), BNB (BNB), and Snowfall Protocol (SNW) and Decide Which Is The Best – Find Out More!

January 27, 2023

PancakeSwap To Do a V3 Upgrade In 2023 According to Roadmap Update, Kava Gets Coinbase Listing, Snowfall Protocol Releases the Long-Awaited Snowfall DEX And Promises Another Huge Announcement A Week Before Launch— Is Snowfall Wallet Coming Early Too?

January 27, 2023

Litecoin (LTC) and Polygon (MATIC) Have Been Renowned IN The Past But It’s Time For A New Crypto Project To Take The Top Ranks: Snowfall Protocol (SNW)

January 27, 2023

Binance Coin (BNB) And Orbeon Protocol (ORBN) Speculated To Make Huge Gains In 2023

January 27, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.