‘One of the Greatest Ever’ Indicators Is Screaming Buy Bitcoin at $9,000

Tony "The Bull" Severino

1 year ago

3 mins read

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Because Bitcoin is an asset unlike anything else before it, analysts use a set of unorthodox, uniquely developed tools for fundamental analysis.

One of these tools praised as “one of the greatest ever” indicators, is currently “screaming buy.” The only previous three times this indicator gave buy signals, it resulted in an average of over 5,000% return on investment.

Cryptocurrency Fundamental Analysis Tools Focus on Network Health, BTC Miners

Bitcoin is the first-ever cryptocurrency and the first digital asset to solve double-spending through a proof-of-work system called mining.

These miners are so important to the underlying network’s health and can have such significant influence on price action, that dozens of indicators have been developed by top Bitcoin researchers to help them make sense of the asset’s long-term valuation potential.

Rather than speculate like most that Bitcoin will reach incredible prices of $100,000 to over $1 million per BTC, these tools look at fundamentals that could influence the asset’s longevity as a technology, store of wealth, and more.

Many of these tools are giving conflicting signals. An indicator called the Hash Ribbons looks at Bitcoin miner hash rate – which recently set a new 2020 low – to understand if miners will be selling their BTC holdings or not.

That indicator appears to suggest that miners are capitulating due to the sudden, overnight increase in the cost of production that the halving brought forth.

Each halving reduces the block reward these miners receive for securing the Bitcoin protocol and add each block of transactions to its immutable digital ledger on the blockchain.

Puell Multiple is a screaming buy. One of the greatest ever. You do not want to be selling here folks.

Save yourselves and stack.@PositiveCrypto @kenoshaking #bitcoin pic.twitter.com/WfrWLR50yf

— Riggs (@RiggsBTC) May 27, 2020

Greatest Bitcoin Indicator Signals Buy, Averages 5,000% ROI After Triggering

Another indicator that pays close attention to the fundamental health of the leading cryptocurrency by market cap, is the Puell Multiple.

This tool looks at miners and their revenue driven from producing each BTC in combination with related energy expenses.

It is calculated by taking the daily issuance of new Bitcoin in USD value and dividing it by a 365-day moving average of said daily issuance value.

Each time this indicator – considered one of the “greatest ever” – has dropped into the buy zone, it has resulted in an average upside of 5,000%.

The indicator has only given three signals prior, making this latest dip into the buy zone the fourth in Bitcoin history.

The first dip resulted in an over 7,500% return. The second, coinciding with the 2014-2015 bear market bottom, provided investors with over 9,000% returns.

The signal triggered once again when the cryptocurrency hit its current bear market “bottom” at $3,200, but resulted in the smallest rise following at just over 300%.

Now, the indicator is “screaming buy” once again. How far will Bitcoin climb this time around?

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.