{"id":459256,"date":"2021-03-22T20:00:01","date_gmt":"2021-03-22T20:00:01","guid":{"rendered":"https:\/\/uniquehot.com\/?p=459256"},"modified":"2024-06-11T14:14:10","modified_gmt":"2024-06-11T14:14:10","slug":"bitcoin-metric-energy-value-top","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-metric-energy-value-top\/","title":{"rendered":"This Bitcoin Metric Says The Top Is Still 350% Away"},"content":{"rendered":"

Bitcoin price is struggling to get back over $60,000<\/a> where the current all-time high record stands. However, according to one top crypto researcher’s take on the cryptocurrency’s Energy Value, the top is still as much as 350% away from here.<\/p>\n

A rise from current prices by 350% as predicted, would bring the price per coin to as high as $260,000 each, matching the expected targets of other analysts. Here’s more about Bitcoin’s Energy Value Oscillator and why the analyst in question believes the bull market still has so much more room to grow.<\/p>\n

Bitcoin Could Climb To $260,000 Per Coin, Based On Energy Value Oscillator<\/h2>\n

Bitcoin is a disruptive technology<\/a> with the potential to change the world and money forever, but it also could be a complete failure. As time goes by, however, the scenario where the cryptocurrency fails diminishes, and instead, it continues to prove its potential to the world.<\/p>\n

The cryptocurrency network takes energy and converts it into monetary power. It does so through a complex process called proof-of-work that involves specialized computers called miners.<\/p>\n

Related Reading | Following Bitcoin \u201cReset,\u201d It\u2019s \u201cOff To The Races Again\u201d<\/a><\/strong><\/em><\/p>\n

As the cryptocurrency’s network grows, and more energy is being pumped into keeping it in operation \u2013 incentivized by new coins \u2013 the Energy Value of each coin also grows.<\/p>\n

The Energy Value Oscillator, created by Bitcoin expert Charles Edwards, measures that activity and turns it into a technical indicator rooted in fundamentals \u2013 much like Edwards’ various other tools, such as the Hash Ribbons<\/a> and more.<\/p>\n

Comparing this tool and how high the metric rises during bull markets, Edwards projects another 350% rise in the future for the price per BTC.<\/p>\n

\"bitcoin<\/p>\n

Theoretically, Bitcoin could rise another 350% compared to past cycles | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
A 350% rise from current levels where the coin is trading now, would result in another $200,000 increase to a price of around $260,000 per coin.<\/p>\n
Using the chart above, pulses of this nature are typically sharp and swift, over almost as fast as they begin. The current bull market going by previous cycle standards, only appears to be just beginning, and if did ultimately top out similarly to past cycles<\/a>, would result in Edwards’ price target of $260,000 per BTC.<\/p>\n
Related Reading | Data Shows Bitcoin Peaks Last Roughly 40 Days: When To Sell Your Coins<\/a><\/strong><\/em><\/p>\n
The one anomaly on the chart, as Edwards points out, was due to the introduction of ASIC miners, which created a sharp uptick in hash power being contributed to the Bitcoin network.<\/p>\n
Peaks in bull markets are so visible because so many participants are pilled in at the top<\/a>, looking for a piece of the pie. If the tool works the same in the future as it has in the past, that top appears to be nowhere near in sight.<\/p>\n
Featured image from Deposit Photos, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is struggling to get back over $60,000 where the current all-time high record stands. However, according to one top crypto researcher’s take on the cryptocurrency’s Energy Value, the top is still as much as 350% away from here. A rise from current prices by 350% as predicted, would bring the price per coin to as high as $260,000 each, matching the expected targets of other analysts. Here’s more about Bitcoin’s Energy Value Oscillator and why the analyst in question believes the bull market still has so much more room to grow. Bitcoin Could Climb To $260,000 Per Coin, Based On Energy Value Oscillator Bitcoin is a disruptive technology with the potential to change the world and money forever, but it also could be a complete failure. As time goes by, however, the scenario where the cryptocurrency fails diminishes, and instead, it continues to prove its potential to the world. The cryptocurrency network takes energy and converts it into monetary power. It does so through a complex process called proof-of-work that involves specialized computers called miners. Related Reading | Following Bitcoin \u201cReset,\u201d It\u2019s \u201cOff To The Races Again\u201d As the cryptocurrency’s network grows, and more energy is being pumped into keeping it in operation \u2013 incentivized by new coins \u2013 the Energy Value of each coin also grows. The Energy Value Oscillator, created by Bitcoin expert Charles Edwards, measures that activity and turns it into a technical indicator rooted in fundamentals \u2013 much like Edwards’ various other tools, such as the Hash Ribbons and more. Comparing this tool and how high the metric rises during bull markets, Edwards projects another 350% rise in the future for the price per BTC. Theoretically, Bitcoin could rise another 350% compared to past cycles | Source: BTCUSD on TradingView.com A 350% rise from current levels where the coin is trading now, would result in another $200,000 increase to a price of around $260,000 per coin. Using the chart above, pulses of this nature are typically sharp and swift, over almost as fast as they begin. The current bull market going by previous cycle standards, only appears to be just beginning, and if did ultimately top out similarly to past cycles, would result in Edwards’ price target of $260,000 per BTC. Related Reading | Data Shows Bitcoin Peaks Last Roughly 40 Days: When To Sell Your Coins The one anomaly on the chart, as Edwards points out, was due to the introduction of ASIC miners, which created a sharp uptick in hash power being contributed to the Bitcoin network. Peaks in bull markets are so visible because so many participants are pilled in at the top, looking for a piece of the pie. If the tool works the same in the future as it has in the past, that top appears to be nowhere near in sight. Featured image from Deposit Photos, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":459258,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790,6664,4524,76835],"class_list":["post-459256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nThis Bitcoin Metric Says The Top Is Still 350% Away<\/title>\n<meta name=\"description\" content=\"Bitcoin price is struggling to get back over $60,000 where the current all-time high record stands. 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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/uniquehot.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"This Bitcoin Metric Says The Top Is Still 350% Away","url":"http:\/\/uniquehot.com\/news\/bitcoin-metric-energy-value-top\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-metric-energy-value-top\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/bitcoin-measure-metric-Depositphotos_232643318_xl-2015-scaled.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/bitcoin-measure-metric-Depositphotos_232643318_xl-2015-scaled.jpeg?fit=2560%2C1709"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt","crypto","xbt","xbtusd"],"dateCreated":"2021-03-22T20:00:01Z","datePublished":"2021-03-22T20:00:01Z","dateModified":"2024-06-11T14:14:10Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"This Bitcoin Metric Says The Top Is Still 350% Away\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-metric-energy-value-top\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-metric-energy-value-top\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/bitcoin-measure-metric-Depositphotos_232643318_xl-2015-scaled.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/bitcoin-measure-metric-Depositphotos_232643318_xl-2015-scaled.jpeg?fit=2560%2C1709\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2021-03-22T20:00:01Z\",\"datePublished\":\"2021-03-22T20:00:01Z\",\"dateModified\":\"2024-06-11T14:14:10Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/bitcoin-measure-metric-Depositphotos_232643318_xl-2015-scaled.jpeg?fit=2560%2C1709","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/459256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=459256"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/459256\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/459258"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=459256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=459256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=459256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}