Crypto Analyst: Bull Market Hinges On This Indicator Reaching 45%

Quick Summary:

This Indicator Must Hit 45% For Bull Market To Resume According to Coutts, one key metric to determine whether the market has entered bullish territory is the percentage of digital assets above their 200-day moving average (MA).

Related Reading: Altcoins Season: Analyst Predicts 2x Surge Post-Bitcoin Rally Despite the recent market downturn, certain fundamental metrics within the crypto ecosystem, such as daily active users (DAU), daily transactions, and network value-to-fee ratio, have increased in the past six months.

Still, Coutts suspects the market is "in the final throes of the bearish thrust.” The analyst emphasized that even when altcoins outperform BTC in terms of price, investing in them may not always be wise if they are still in a downward trend.

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Article Details

Author / Journalist: Ash Tiwari

Category: Crypto

Markets: United Kingdom

Topics: Bitcoin Btc Cryptocurrency Bull Market Altcoin Market analysis Cryptocurrency Market News Cryptocap Altseason

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-20 @ 02:30:44 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 439 words

Reading Time: 3 minutes read

Sentences: 69 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 22614672

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About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

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