On-Chain Analysis: Two Indicators Signal a Long-Term Bottom for Bitcoin

Jakub Dziadkowiec
·1 min read

BeInCrypto –

Today’s on-chain analysis provides a look at two long-term indicators that could signal a macro bottom in the BTC market. These are the Entity-Adjusted Number of Transactions on the Bitcoin network and the Entity-Adjusted Dormancy Flow.

Furthermore, the maximum and minimum bitcoin price models created by Willy Woo indicate that if today were the peak of a long-term bull market, BTC would cost $176,000. On the other hand, if we had a bear market, it would fall to $15,000.

BTC number of transactions lowest in 2 years

The number of transactions on the Bitcoin network has reached a 2-year low. On-chain analyst Lex Moskovski tweeted today a chart of the 30-day moving average Entity-Adjusted Number of Transactions. It shows that the value has fallen to a level in the area of 180,000, which has not been recorded since January 2019.

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