Bitcoin

when

Coin

<ul class="wp-block-list news-points">
 <li>Bitcoin (BTC) is expected to see significant gains soon, according to analyst “Woominkyu” on CryptoQuant.</li>
 <li>The aSOPR indicator suggests Bitcoin is in an accumulation phase before its next surge.</li>
 <li>Investors are advised to buy BTC before the aSOPR reaches 1.08 and whales begin taking profits.</li>
</ul>
Bitcoin (BTC), the world’s largest digital asset by market capitalization, is expected to see significant gains soon, according to an analyst who recommends investing in the cryptocurrency before its accumulation increases and BTC breaks above $70,000.
In a <a href="https://cryptoquant.com/insights/quicktake/6719bfae89c8224c1bcd08ef-Accumulate-Before-the-Surge" target="_blank" rel="noopener noreferrer nofollow">post</a> on the CryptoQuant forum, analyst “Woominkyu” examined Bitcoin’s Adjusted SOPR (aSOPR) using a 150-day moving average and noted that whales typically take profits when aSOPR rises above 1.08. The market top occurs when this level is reached, the analyst added.
Interestingly, The aSOPR is a helpful indicator for understanding market trends and allows investors to see how much profit is happening in the market. An aSOPR above one means that the market is in an uptrend, while an aSOPR below one indicates a bearish market. The current value of the indicator is 1.01, which suggests “a potential accumulation pha…
The post <a href="https://coinedition.com/bitcoin-accumulation-phase-signals-upcoming-surge-analyst/" rel="noopener noreferrer nofollow">Bitcoin Accumulation Phase Signals Upcoming Surge: Analyst</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin Accumulation Phase Signals Upcoming Surge: Analyst

Coin Edition

Other articles published on Oct 24, 2024

IMF Influence on Ripple Grows as XRP Faces Price Predictions and Legal Hurdles

Analysts Are Bullish on Cardano, NEAR Protocol, and Pulsemate AI; Which Should You Buy for Massiv...

Bitcoin Reclaims $67,000 – BTC ETFs See Renewed Inflows and BRICS Discusses Crypto

Unequal Justice? Comparing Sentences for Crypto Crimes

Goatseus Maximus Price Prediction: GOAT Soars 32% As Whales Snap Up This ICO That’s Surged Past $...

Bitcoin (BTC) Network Fundamentals Turns Bullish, Price Rebound Coming?

Join our free newsletter for daily crypto updates!