A Key Bitcoin (BTC) Price Metric Soars For The First Time In 636 Days
✍️ 12 September, 2022 - 7:57 👤 Editor: Jakub Motyka
- The price of Bitcoin (BTC) has exceeded 1.14 points of buy and sale ratio for the first time in 2 years.
- This means that the market is beginning to anticipate an uptrend in the price of Bitcoin.
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For the first time in 636 days, the price of Bitcoin (BTC) has exceeded 1.14 points in its buy and sell ratio. The last time this happened was in the year 2021, just before the rise in the price of this cryptocurrency began.
The buy-sell ratio is a metric used to measure the buy ratio vs. the sell ratio of a cryptocurrency. If the metric is greater than 1, it means that there are more purchases than sales, which may anticipate that the market is preparing for a new bullish rally of the asset in question.
Price Of Bitcoin (BTC) Exceeds 1.14 Points In Its Buy And Sell Ratio For The First Time In Two Years
As reported on the analysis website CryptoQuant, for the first time in 636 days a ratio of 1.14 points has been reached in the buy and sell ratio of Bitcoin (BTC). As this chart shows, the metric of 1.14 points in Bitcoin has only been reached twice in recent years:
Although in recent months the Bitcoin (BTC) has been close to reaching 1.14 points of the buy/sale ratio, it has not been until recently days when he finally managed to touch it.
The previous time the Bitcoin (BTC) buy/sell ratio achieved this figure was last year, when its price skyrocketed for several weeks. The other time it happened was at the end of 2020, just before the previous bullish rally in the price of Bitcoin began.
Price Of Bitcoin (BTC) Rises 0.83% In The Last 24 Hours
In the last 24 hours, the price of Bitcoin (BTC) today, September 12, 2022, has risen by 0.83% to reach $21,750.45. The price of this cryptocurrency has begun to move away from the dangerous limit of 19 thousand dollars with which it played a long time ago a few days, with a trading volume in the last 24 hours that has risen by 15.73%.
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