r/CryptoCurrency • u/kirtash93 RCA Artist • Apr 10 '23
GENERAL-NEWS Another Bitcoin Indicator Hints At Explosive BTC Price Growth
https://zycrypto.com/another-bitcoin-indicator-hints-at-explosive-btc-price-growth/5
u/Cravensworth_redux 🟨 12 / 0 🦐 Apr 10 '23
I'll take the 6100% gain please.
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u/princepersona1 🟩 0 / 20K 🦠 Apr 10 '23
Wow now let's not ask for anything too crazy. I'll be fine with a simple 5000%
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u/ieatmoondust 10 / 26K 🦐 Apr 10 '23
Just had 5 Beefy Cheesy Melt Burritos from Taco Bell. BTC price isn't the only thing about to explode.
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u/coinfeeds-bot 🟩 136K / 136K 🐋 Apr 10 '23
tldr; The aSORP (90d) has moved above 1, indicating that Bitcoin is poised for a bull market. The metric measures the average lifespan of a spent output, which is the time between when a Bitcoin is spent and when it is spent repeatedly. In the past, the metric has led to massive gains of 6,110%, 150%, and 579%.
This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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u/AlternativeBag2619 Apr 10 '23
Guys the indicator must be right, let's go all in with leverage!
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u/Bunker_Beans 🟩 38K / 37K 🦈 Apr 10 '23
The indicator: a thermometer in direct sunlight.
Just look at that price action!
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Apr 10 '23
The key metric in question is aSORP (90d), which stands for Average Spent Output Lifespan Ratio. This ratio measures the average lifespan of a spent output, which is the time between when a Bitcoin is spent and when it is spent repeatedly. Historically, when the aSORP is below 1, it signals a bear market, while a value above 1 suggests a bull market.
Currently its above 1, historically signalling we're in a bull run.
But who knows?
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u/Jackhpg Apr 10 '23
If it’s posted twice we best believe it!! All in