Kthere are two indicators in the crypto market that may indicate a new uptrend for Bitcoin.
These two indicators explain the future of Bitcoin
According to crypto analytics resource CryptoQuant, the Stablecoins Ratio MACD indicator is a bullish signal for Bitcoin.
The Stablecoins Ratio MACD is calculated by dividing BTC reserves in USD by the stablecoin reserve available on global crypto exchanges.
CryptoQuant , in the opinion that the SR-MACD indicator detects the selling pressure on the stock markets. For now, the firm points to a high amount of stablecoin assets compared to BTC holdings on exchanges.
As seen in the chart above, the 2020/2021 bull run starts in 2020. In September, it is clear that the amount of stablecoins on exchanges is quite large compared to the amount of BTC.
Fear and Greed index
Fear and Greed (fear and hunger) in the crypto space It is a combination of many different data, including eyeglasses) index, volatility, volume, surveys, social media interactions.. The index, which, as it were, reveals the mood of the market, scales between 0 (extreme fear) and 100 (extreme greed). Provides the top or bottom, used to determine. When the index goes into extreme greed, prices start to pull back and vice versa.
The Feer & Greed Index was above the 75 level in mid-April when Bitcoin was heading towards $65,000.. Shortly after, BTC started to drop.
Currently, the index is at 22 levels, as it has been for the past week, and is pointing to fear.. If the historical data is correct, according to the index, BTC should rise from here.
Live BTC price: $ 20,168.00
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