To investors, Below is the weekly write-up from bitcoin analyst Will Clemente, where he uses on-chain metrics to explain what is happening in the bitcoin ecosystem. Hope you enjoy it. Happy Friday, hope you all had a great week. At the time of writing, Bitcoin currently sits just above $53,600. Last week we described how price was either at a bottom or within days of reaching one based on the metrics that we looked at. Two days after the newsletter was sent out, price reached a local bottom on Sunday, retesting the key on-chain volume support zone of $47,000 before aggressively shooting back up. Let us take a look at the latest developments in on-chain data structure to develop an understanding of market participants’ behavior.
Some panic about each dip, and some stay calm, analyse and learn. Thanks Pomp for bringing this insightful analysis with Will.
Awesome article thanks