Price: $0.38510 1.6552%
Market Cap: 56.57B 1.7285%
Volume (24h): 8.06B 0.4%
Dominance: 1.7285%
Price: $0.38510 1.6552%
Market Cap: 56.57B 1.7285%
Volume (24h): 8.06B 0.4%
Dominance: 1.7285% 1.7285%
  • Price: $0.38510 1.6552%
  • Market Cap: 56.57B 1.7285%
  • Volume (24h): 8.06B 0.4%
  • Dominance: 1.7285% 1.7285%
  • Price: $0.38510 1.6552%
Home > Information news > This BTC Indicator Makes It ‘Incredibly Easy’ to Know if Bitcoin Is in a Bull or Bear Market

This BTC Indicator Makes It ‘Incredibly Easy’ to Know if Bitcoin Is in a Bull or Bear Market

Release: 2023/11/20 01:41 Reading: 704

Original author:CaptainAltcoin

Original source:https://coinmarketcap.com/community/articles/655a473efcc2483df21d6607

According to a recent post by CryptoCon, there is one indicator that makes it very simple to determine if Bitcoin is in a bull or bear market – the Bollinger Band %. As CryptoCon explains, this measurement looks at the percentage of time Bitcoin’s price is above the upper Bollinger Band.

The Power of Bollinger Bands

Bollinger Bands are a type of statistical chart analysis that uses two bands plotted at two standard deviations above and below a simple moving average. When the price breaks above the upper band, it’s considered overbought, while a break below the lower band is seen as oversold. The percentage of time spent between the two bands indicates the overall trend.

According to CryptoCon, Bitcoin spent just 2 years and 7 months below the .88% threshold, indicating a bearish trend. However, in October 2020, Bitcoin crossed back above this critical .88% mark, suggesting the start of a new bull market.

Entering a New Bull Market

CryptoCon states that this indicator “told us that the last cycle, black swan and all, was bearish until October 2020.” The .88% threshold represents the shortest amount of time Bitcoin’s price stayed above that level in previous cycles.

Now that Bitcoin is back above .88%, CryptoCon believes “we have a long time to go with price action over the threshold this cycle.” He compares it to the 2015-2018 bull run and concludes “the cross is here, and we’re just getting started.”

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So in summary, this straightforward Bollinger Band metric makes it easy to visualize Bitcoin’s macro trends and indicates we’ve entered a new long-term bull market. CryptoCon sees plenty of room for growth based on historical patterns.

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The post This BTC Indicator Makes It ‘Incredibly Easy’ to Know if Bitcoin Is in a Bull or Bear Market appeared first on CaptainAltcoin.

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