So a three-month bull market is going to start! But wen?
This result was obtained by the Puell Multiple and a number of additional observations in microeconomic settings.
The Puell Multiple is a useful indicator that compares Bitcoin’s daily issuance (in USD) to its 365-day moving average. It is frequently used to identify probable market tops and bottoms based on miner profitability, which has a substantial impact on Bitcoin price swings.
In the above chart by @3AMRTAHA_: —
- The blue line represents the Puell Multiple.
- 2. The green boxes highlight periods when the Puell Multiple dropped to the lower bound (around or below 0.4), which often signals market bottoms and strong buying opportunities.
- 3. The red shaded area at the top marks periods where the Puell Multiple is extremely high (over 4–6), often correlating with market tops and potential sell signals.
Thank you to Taha. I have that data, but as we all know, one indicator is insufficient; however, when combined with current market conditions in macroeconomics, we can confidently state that the market is not in relatively good shape. Whatever happens in the election, the market will tank within a few months; a detailed thread will follow in the future, but if that is the case, we will see a rally, but it will be short-lived.
If you find this useful, please follow @cryptodurgesh & my medium page. https://growthmindsetgg.medium.com
This journey is here to stay forever.
