- Advertisement -

Pay Attention to This Graph! This Could Be the Next Bitcoin Price!


According to CryptoQuant analyst Ghoddusifar, Bitcoin’s (BTC) delta price may indicate that the worst is yet to come. According to him, the current delta price of Bitcoin indicates a rather feared scenario.

Bitcoin Delta Price

CryptoQuant analyst Ghoddusifar pointed out that Bitcoin’s delta price is at $ 12,800 and said that the worst has not happened yet. In Bitcoin, the delta price acts as the potential price resulting from the difference between the realized Decimated price and the average market cap price. This result constitutes Ghoddusifar’s analysis and thus shows that BTC could fall further, as shown in the image below.

The analyst not only focused on the latest BTC trend, but also provides concrete information on what happened in the past. Bringing up the fact that the previous 2015 and 2018 cycles were similar to the current conditions, Ghoddusifar pointed out that this caused the BTC price to fall before there was a “turning point”. According to Ghoddusifar, there is a downward trend at every point of the current situation, and this makes a fall in the price inevitable:

Although the amount of Bitcoin falling from the peak in previous cycles and on-chain metrics indicate that Bitcoin is close to the turning point, there is a possibility of further decline.

Technically, it seems that some of the calls made by the analyst are quite valid. The Bollinger Bands on the daily chart of BTC reveal that the volatility of the largest crypto currency is extremely low. Since BTC has not broken the lower band level, it is unlikely to expect a hard jump in the upward direction. In addition, it is out of the question that it will go outside the upper band at current October prices. As a result, the decline that Ghoddusifar points out could be experienced.

In addition, the Exponential Moving Average (EMA) also indicates a potential decline in price. This is because the 20 EMA (green) overlaps with the 50 EMA (turquoise). In such a situation, a decrease in the price is considered as a possible option.

There is No Reward for Those Who Do Not Take Risks in Bitcoin

According to Glassnode, the Bitcoin reserve risk, which indicates whether the confidence of long-term investors is at its peak, is currently at the level of 0,00076 dollars, and these levels are considered the bottom. The fact that the reserve risk is at the bottom means that the confidence of its long-term investors is not at the peak. A table in which the reserve risk is high and the price is low is considered as an indicator that it is time to accumulate.

Are you following our Telegram address?


Leave A Reply

Your email address will not be published.