Santiment Made References to 2017 and 2021: 'Despite the Fall, Bitcoin and These Two Altcoins Are Sending Bullish Signals!'

Overlooked Indicator Provides Bullish Signal Amidst Crypto Market Decline

Despite recent sharp declines in Bitcoin (BTC) and altcoins, Santiment highlights an overlooked indicator suggesting a bullish outlook.

Mean Dollar Invested Age

The "Mean Dollar Invested Age" metric tracks the time since cryptocurrencies were initially acquired. According to Santiment, it often goes unnoticed but can provide valuable insights.

Bullish Trends Despite Market Decline

Santiment notes that while the market has experienced a notable downturn, the mean dollar invested age metric indicates the continuation of a long-term uptrend.

Key Metrics

Recent data from Santiment shows the following average investment ages:

• BTC: 439 days (31% younger in 60 weeks)
• XRP: 865 days (22% younger in 14 weeks)
• DOGE: 370 days (31% younger in 8 weeks)

Dormancy Breaking

A downward trend in a cryptocurrency's mean dollar invested age indicates that older and dormant wallets are becoming active again, circulating their coins and boosting network activity.

2017 and 2021 Bull Markets

Santiment references the bull markets of 2017 and 2021, where the rallies continued until the average age of the respective assets began to incline again.

Outlook

Santiment suggests that the current indicator trend in 2024 mirrors that of previous bull markets. While price fluctuations may occur in the short term, this indicator suggests an upward trajectory in the medium and long term.

Disclaimer

This information is not intended as investment advice.