CryptoQuant CEO Says “Strong Buy Signal” for Bitcoin!

Estimated read time 2 min read

CryptoQuant CEO Ki Young Ju has highlighted a significant buy signal for Bitcoin (BTC) in its current price cycle. In a post on November 8, Ju shared that CryptoQuant’s on-chain, cost-based indicators have identified rare cyclical buy/sell signals that appear only once or twice per cycle, providing long-term guidance for investors.

Bitcoin Wallet Profitability Analyzed

According to Ju, on-chain data reveals the current profitability of Bitcoin wallets. On average, wallets are seeing a 127% profitability rate, with the current metrics signaling a “buy.” Historically, profitability has dipped to around -24% during cycle lows, while reaching as high as 298% in peak phases. This cyclical profit/loss pattern is crucial for long-term investors, as it helps them navigate Bitcoin’s market volatility with pre-defined alerts.

Signals as a Guide for Investors

Ju’s analysis demonstrates that these historically inspired signals can be a strong guide for investors. Rarely triggered, they serve as potential indicators for buy or sell opportunities, suggesting that Bitcoin’s current price level presents a favorable opportunity for long-term investors.

These signals empower investors to be better prepared for Bitcoin’s cyclical fluctuations, allowing for more strategic moves in response to market shifts.

Currently, Bitcoin has seen a 1.78% increase over the last 24 hours, trading at $76,205, and a 9.94% gain over the past seven days. With a market cap of $1.5 trillion, Bitcoin remains the largest and most valuable asset in the crypto market.

Bitcoin, CryptoQuant, buy signal, market cycle, profitability

Ezeudo Nwosu

Ezeudo Nwosu is a blockchain and cryptocurrency professional with over 8 years of experience in the industry. With a background in software engineering, Ezeudo has been at the forefront of developing innovative blockchain solutions that address key challenges in various sectors. His work includes leading blockchain integration projects and advising on the creation of decentralized applications (dApps). Ezeudo is recognized for his deep technical knowledge and his ability to translate complex blockchain concepts into practical applications. At DT NEWS, he offers expert insights into the latest developments in blockchain technology and cryptocurrencies, helping readers stay informed about the future of digital finance.

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