Bitcoin Will Not Go Back To Lower Prices, New Indicator Shows

It has been just revealed that Bitcoin will not go back to lower prices. Check out the latest predictions about the matter below.

Jason Pizzino, a popular crypto analyst, believes that Bitcoin (BTC) is likely to continue its upward trend.

He advises his 291,000 YouTube subscribers to keep an eye on the market-value-to-realized-value (MVRV) Z-score, a metric that identifies long-term trend reversals by highlighting the extremes in the data between market value and realized value.

Pizzino stated:

“Once this indicator jumps into the positive, you can see here it’s 0.13, again, it’s very unlikely that the market is going to fall back into that accumulation zone, and it seems like we’re on the way up, stair-stepping into the next re-accumulation zones.”

He continued and said the following:

“Things are going to get very, very difficult for those who are still sitting on the sidelines, listening to the fear porn, hoping and waiting for bigger downside targets, telling them that the world will have a collapse and the stock markets are signaling more downside corrections and they’re hoping and waiting for that.

That is a fool’s game to play, and unfortunately, it’s called the dumb money, and I hope you’re not part of that dumb money.”

Blockchain data analysis has revealed that a significant amount of Bitcoin (BTC) worth hundreds of millions of dollars, which was previously associated with a now-defunct dark web marketplace, has been transferred to a cryptocurrency mixer.

According to the findings of blockchain investigator ZachXBT, an unidentified entity has moved around 4,800 BTC, which is equivalent to $144 million, from the Abaraxas darknet marketplace to a Bitcoin mixer.

“An entity moved ~4800 BTC ($144 million) originating from Abraxas darknet market which exit scammed in Nov 2015 after previously sitting dormant. They consolidated funds and also deposited [them] to a Bitcoin mixer. This graph shows an example of the movements from one of the addresses.”