Long-Term Bitcoin Metrics Reversing – Experts Foresee ‘Explosive Phase’ For Top Crypto

Christian Encila

1 year ago

4 mins read

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Bitcoin (BTC) is currently experiencing a notable surge in its value, effectively propelling the entire cryptocurrency market upwards. The recent upswing has drawn the attention of various experts in the field, one of whom is the pseudonymous crypto strategist known as TechDev.

In a recent post on the popular social media platform X, TechDev emphasized that Bitcoin, often referred to as the king of cryptocurrencies, is poised to enter an “explosive” phase, citing the reversal of the king crypto’s long-term metrics as evidence.

According to TechDev, a specific signal occurs approximately every 3 to 3.5 years, indicating an impending period of several months during which the market capitalization of Bitcoin is expected to grow significantly.

Every 3 to 3.5 years, this signal says the next several months will be explosive for #Bitcoin. pic.twitter.com/OQkoCVgbwH

— TechDev (@TechDev_52) October 28, 2023

Analyzing TechDev’s Bitcoin Insights

Analyzing the intricate dynamics at play, TechDev’s chart highlights an intriguing correlation between China’s 10-year yield on its bond and the US dollar index, suggesting that as China’s bond yield decreases in relation to the US Dollar Index, Bitcoin’s price is predicted to rise.

10 degree $BTC/#NASDAQ breakouts are not ones to miss. pic.twitter.com/NmW7n5kiKe

— TechDev (@TechDev_52) November 1, 2023

Simplifying this, it implies that as the yield on China’s long-term bonds decreases in comparison to the strength of the US dollar, there is an increased likelihood of Bitcoin’s value escalating, possibly due to shifting investor sentiment and a growing appetite for alternative assets.

Furthermore, TechDev underlines Bitcoin’s historical breakouts against the NASDAQ over the years, emphasizing the significance of these breakthrough moments.

These instances serve as a strong indication for investors, signaling the importance of not overlooking Bitcoin’s potential to break out significantly against the renowned stock exchange.

Bitcoin currently trading at $34,610 on the daily chart: TradingView.com

Cathie Wood’s Vote Of Confidence

In addition to the optimistic sentiments surrounding Bitcoin, prominent financial figure Cathie Wood, the head of Ark Investment, has expressed unwavering confidence in Bitcoin as a hedge against the potential risks of deflation.

In a recent interview on Bloomberg’s Marin Talks Money podcast, Wood responded to a question regarding her preferred asset class to hold for a decade. Without hesitation, she unequivocally favored Bitcoin over gold or cash, highlighting its unique characteristics that make it an effective safeguard against both inflation and deflation.

Wood emphasized Bitcoin’s inherent resilience against counterparty risk, along with its decentralized nature, which tends to discourage excessive institutional interference. Describing Bitcoin as the “digital gold” of the contemporary financial realm, Wood’s endorsement adds further credibility to Bitcoin’s position as a resilient and promising investment option.

The current price of Bitcoin according to CoinGecko stands at $34,557, with a slight 24-hour dip of 1.8% countered by a modest seven-day gain of 1.3%. These fluctuations further underscore the dynamic nature of the cryptocurrency market and the ongoing developments that continue to shape the trajectory of Bitcoin’s value.

Amidst these fluctuations, the overarching sentiment remains bullish, emphasizing the growing recognition of Bitcoin’s significance in the global financial landscape.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Freepik

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.