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Home Cryptocurrency news Bitcoin

All Bitcoin Fundamentals Scream “Buy” Says Prominent Market Researcher

Tony Spilotro by Tony Spilotro
9 months ago
in Bitcoin, Cryptocurrency news, Technical analysis
Reading Time: 2min read
Statistics: Bitcoin Will Tumble to $6,000, Maybe Lower, If Bears Take Control Now
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While Bitcoin price may be struggling to reclaim recent highs, according to one prominent market researcher, all of the first-ever cryptocurrency’s fundamentals are screaming “buy,” just ahead of the asset’s halving.

Is this the last chance crypto investors will have to buy Bitcoin at low prices ahead of the next bull run starting?

The Differences Between Traditional Fundamental Analysis And Bitcoin Explained

Investors and analysts often perform detailed technical and fundamental analysis before taking a position in an asset, and also revisit their analysis to ensure the asset as tracking along in a healthy manner.

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Technical analysis involves trading indicators, chart patterns, Japanese candlesticks, and more. Fundamental analysis, however, looks at both qualitative and quantitative data, to try to make sense out of key metrics related to an underlying asset.

Related Reading | This Long-Term Momentum Indicator Is About to Flip Bullish on Bitcoin 

In stocks, this type of analysis involves reviewing revenue figures, operating expenses, and even a close look at the executive management team of a company.

With Bitcoin, however, there are no company shares, no board of directors, no CEO leading the charge. This makes applying fundamental analysis to the crypto asset a bit more challenging.

Many have developed unique models, such as the highly popular Bitcoin stock-to-flow valuation model, basing the asset’s value on the hard-coded digital scarcity.

While others have relied solely on on-chain metrics, and other statistics related to mining.

According to well-known market researcher Charles Edwards, when looking at “pure Bitcoin fundamentals” alone, “everything screams buy.”

Looking at pure Bitcoin fundamentals only.

Basically everything screams "buy". pic.twitter.com/hpHGUjYq0m

— Charles Edwards (@caprioleio) April 28, 2020

BTC Fundamentals All Scream Buy, According to Market Research

Looking at the researcher’s chart can be a little overwhelming, with all of the various data points and unusual indicators.

The very bottom of the chart is a modified version of the Bitcoin NVT or Network Value to Transactions ratio, which has been developed to spot Bitcoin tops and bottoms. A bottom was just signaled on the indicator.

Above it, is the Bitcoin Energy Value Oscillator, which attempts to provide Bitcoin with a fair value based on energy spent.

The next indicator above, directly under the price action, is the Hash Ribbons indicator, which recently triggered a buy signal after days of miner capitulation.

Related Reading | Massive Bitcoin Miner Capitulation Could Act As Launchpad For Bull Market 

Finally, along with price action, the Bitcoin Cost of Production indicator is showing that price is now on par with the cost to produce each BTC, which suggests that the price would need to double soon to prevent miners from operating at a loss.

Also depicted, in the blue line, is the Tether market cap, which has shown a correlation in the past that Bitcoin pumps when more Tether is printed. The stablecoin’s market cap just reached

Tags: bitcoinbtcbtcusdcryptohash ribbonsNVT
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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