Bitcoin has extended its recent decline and has now plunged under $39,000. Here are the levels where a bottom could form, according to a quant.
Bitcoin Supply In Loss Is Nearing In On Historical Rebound Level
As an analyst in a CryptoQuant Quicktake post explained, the BTC price and Supply in Loss have followed a certain pattern a few times. The “Supply in Loss” here is an indicator measuring the percentage of the Bitcoin supply currently being held at some loss.
This metric works by going through the on-chain history of each coin in circulation to see what price it was last moved at. If this last transfer price for any coin was less than the current spot price of the asset, then that particular coin is sitting on some unrealized loss right now.
This is only with the assumption, of course, that the last transaction of the coin indeed involved a change of hands (that is, its cost basis was reset to the price at the time).
The Supply in Loss adds up all such coins satisfying this con
We współpracy z: https://bitcoinist.com/bitcoin-reversal-happen-price-target-quant-explains/
