VRB News
Virtual Reality Brisbane
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact
No Result
View All Result
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact
No Result
View All Result
No Result
View All Result
Home IT news

The Bitcoin in times of the roller coaster

admin by admin
June 21, 2022
in IT news
0
Achterbahn
0
SHARES
17
VIEWS
Share on FacebookShare on Twitter

The current price volatility is a stress test even for die-hard Bitcoiners. For the first time in its history, BTC is undermining an all–time high established in the previous cycle – only to break out of it again a few hours later. What this tells us about the cryptocurrency.

First of all, the facts: with 17,760 US dollars, BTC will set a new ground according to the situation on Saturday, June 18, and thus falls significantly below the (attention, winged word) “psychologically important mark” of 20,000 USD. Psychologically, this brand is important not only because it is so beautifully round, but also because BTC has stopped in the bear markets of the past at the latest at the all-time high of the old cycle. So many people are already talking about a (attention) “turn of the times”.

In order to make a rhyme about things, it is usually worth a sober analysis. Is Bitcoin dead? Pretty sure not.

RSI: Bitcoin is oversold

A look at the RSI, the Relative Strength Index, reveals that Bitcoin is currently as oversold as never before. That means: the current price level is a dream territory for dip buyers.

Source: Buy Bitcoin Worldwide

In addition, the RSI shows that the sell-off in the crypto market is violent even for BTC ratios. At 39.6, BTC is as “weak” (according to the indicator) as never before in its history.

Mayer Multiple: Is soil formation in sight?

But the RSI is not the only indicator that indicates an undervaluation. The Mayer Multiple also indicates soil formation. At 0.48, the indicator is as low as it has not been for seven years.

Source: Buy Bitcoin Worldwide

The Mayer Multiple is obtained by dividing the current price by the 200-day moving average.

Bitcoin Miners Buy the Dip

And if that’s not enough, a look at the behavior of the miners can also help. After all, the backbone of the Bitcoin network consists of absolute professionals who guarantee the security of the system with a lot of capital investment. Instead of reducing their positions, the miners of these days are in accumulation mode.

According to data from Glassnode, miners keep a large part of their mined coins and thus expand their BTC position.

In the end, it also helps to focus on the core promises of Bitcoin. Do I invest in BTC because I want to maximize my profit in fiat or do I believe in the long-term success of the cryptocurrency?

Nothing has changed about Bitcoin’s basic idea. The blockchain runs like clockwork and produces a new block every ten minutes. And as for the course: in 683 days is halving again.

Previous Post

Solend carries a high risk

Next Post

HMD with 4K Sharp display for this year

admin

admin

Related Posts

What are the advantages of software development by a dedicated team and by outsourcing
IT news

What are the advantages of software development by a dedicated team and by outsourcing?

March 20, 2023
Samsung reveals how the Galaxy Watch takes care of your sleep
IT news

Samsung reveals how the Galaxy Watch takes care of your sleep

March 20, 2023
Pallet offers with cheap electronics are mostly fake
IT news

Pallet offers with cheap electronics are mostly fake

March 14, 2023
Bill Gates was so addicted to Minesweepers, they had to cheat to stop him
IT news

Bill Gates was so addicted to Minesweepers, they had to cheat to stop him

March 14, 2023
Cashback Services
IT news

Top Cashback Services

March 13, 2023
Next Post
HMD with 4K Sharp display for this year

HMD with 4K Sharp display for this year

Premium Content

Is virtual reality worth it? We test the best Oculus and HP glasses

Is virtual reality worth it? We test the best Oculus and HP glasses

February 10, 2022
REPORT: Apple is developing at least 4 smart devices

REPORT: Apple is developing at least 4 smart devices

September 7, 2022
Manus Prime II: a new VR-glove market

Manus Prime II: a new VR-glove market

August 15, 2020

Browse by Category

  • Games
  • IT news
  • Tech
  • World

VRB News is ready to cooperate with webmasters and content creators. Send an email to info@virtualrealitybrisbane.com

Categories

  • Games
  • IT news
  • Tech
  • World

Recent Posts

  • What are the advantages of software development by a dedicated team and by outsourcing?
  • Samsung reveals how the Galaxy Watch takes care of your sleep
  • Pallet offers with cheap electronics are mostly fake

© 2021 - The project has been developed ServReality

No Result
View All Result
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact

© 2021 - The project has been developed ServReality

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?