While Bitcoin remains within 5% of its all-time highs, showing some remarkable price stability, BTC futures did close slightly lower by almost 2%, bringing the price of April futures to $58,695.
One of these sources is the financial media giant Bloomberg. On Tuesday, the outlet published a report on the most likely outcomes for the second quarter, this summary of which reads, “A more likely 2Q scenario is to breach $60,000 resistance and head toward $80,000. A backup toward $40,000 support is less likely, in our view.”
The innermost circle of the Bitcoin community, the beating heart of the blockchain, its miners, have recently been hoarding their earnings of new BTC rather than selling them as fast as they produce them minors have been accumulating their stashes of it. This suggests that many miners are expecting higher prices within the near future and therefore not immediately liquidating in expectations of higher returns down the line rather than diminished prices.
Thermo cap is a ratio that measures the collective block rewards miners have earned since the genesis of a blockchain. An article published in Yahoo Finance by Valdrin Tahiri utilized data from Glassnode and the market cap/Thermo cap ratio to conclude that BTC’s rally is nowhere near its conclusion point.
An exciting ratio that has so far correctly predicted the two previous market tops is the MC/TC ratio. It simply divides these two values to find a ratio that can be used to assess whether