{"id":516197,"date":"2023-01-16T09:33:13","date_gmt":"2023-01-16T14:33:13","guid":{"rendered":"https:\/\/uniquehot.com\/?p=516197"},"modified":"2024-06-11T11:25:29","modified_gmt":"2024-06-11T11:25:29","slug":"glassnode-consistency-bitcoin-cycles","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/glassnode-consistency-bitcoin-cycles\/","title":{"rendered":"Glassnode Points Out This Bizarre Consistency In Bitcoin Cycles"},"content":{"rendered":"

Glassnode has pointed out a bizarre consistency between the current and previous Bitcoin cycles in terms of a metric, here’s what.<\/p>\n

Bitcoin Breaks Above 200-Day Simple Moving Average Line<\/h2>\n

A “simple moving average<\/a>” (SMA) is an analytical tool that produces an average of any given quantity over a specific period of time. As its name already implies, it moves along with the quantity and changes its value accordingly.<\/p>\n

SMAs can be quite useful for studying long-term trends, as they smooth out the curve and filter out any short-term fluctuations in the relevant quantity that have no bearing on the longer trends anyways. As is usually the case with tools like these, an SMA can be taken for any length of time, but a few periods like 7 days and 30 days generally find the most use.<\/p>\n

According to data from the on-chain analytics firm Glassnode<\/a>, BTC has spent 381 days under its 200-day SMA curve in this cycle. The 200-day SMA is an important line for BTC as both the bear-to-bull and vice versa transitions have historically taken place with breaks above or below this level.<\/p>\n

Related Reading: Bitcoin Miners Show Signs Of Dumping, Bad For Rally?<\/a><\/div>\n

Here is a chart that shows the trend in the 200-day SMA for Bitcoin over the last few years:<\/p>\n

\"Bitcoin<\/p>\n

The value of the crypto seems to have broken above the 200-day SMA in recent days | Source: Glassnode on Twitter<\/a><\/pre>\n
As displayed in the above graph, the Bitcoin price had dipped below the 200-day SMA around the start of the bear market and had stayed there until very recently. In total, the crypto had spent 381 days below this level, before the latest rally came along and helped the coin finally escape above this line.<\/p>\n
In the chart, Glassnode has also highlighted the trend for the metric during the previous bear market. It looks like in that cycle as well, the crypto’s price had declined below the 200-day SMA as the bear began to take hold. Also, the eventual break above the level leads to the end of the bear market for the coin back then.<\/p>\n
Related Reading: Bitcoin Price Resumes Increase as The Crypto Bulls Take Control<\/a><\/div>\n
However, the most interesting of all is the duration that Bitcoin stayed below this level in that cycle: 386 days. Amazingly, this is very nearly the same number of days (381) that BTC took to break above the line in the current cycle.<\/p>\n
If this bizarre consistency is anything to go by, then the latest push above the 200-day SMA could mean the current bear market<\/a> might be done as well.<\/p>\n
The chart also shows data for an indicator called the “Mayer Multiple<\/a>” (MM) which gauges the current distance between the price of Bitcoin and the 200-day SMA. Its value is simply calculated by dividing the value of the crypto by the 200-day SMA. Bottoms in the crypto have usually taken place below the 0.8 MM level, which BTC is now firmly above.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading around $20,800, up 21% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
BTC consolidates just below $21,000 | Source: BTCUSD On TradingView<\/a><\/pre>\n
Featured image from Andr\u00e9 Fran\u00e7ois McKenzie on Unsplash.com, charts from TradingView.com, Glassnode.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Glassnode has pointed out a bizarre consistency between the current and previous Bitcoin cycles in terms of a metric, here’s what. Bitcoin Breaks Above 200-Day Simple Moving Average Line A “simple moving average” (SMA) is an analytical tool that produces an average of any given quantity over a specific period of time. As its name already implies, it moves along with the quantity and changes its value accordingly. SMAs can be quite useful for studying long-term trends, as they smooth out the curve and filter out any short-term fluctuations in the relevant quantity that have no bearing on the longer trends anyways. As is usually the case with tools like these, an SMA can be taken for any length of time, but a few periods like 7 days and 30 days generally find the most use. According to data from the on-chain analytics firm Glassnode, BTC has spent 381 days under its 200-day SMA curve in this cycle. The 200-day SMA is an important line for BTC as both the bear-to-bull and vice versa transitions have historically taken place with breaks above or below this level. Related Reading: Bitcoin Miners Show Signs Of Dumping, Bad For Rally? Here is a chart that shows the trend in the 200-day SMA for Bitcoin over the last few years: The value of the crypto seems to have broken above the 200-day SMA in recent days | Source: Glassnode on Twitter As displayed in the above graph, the Bitcoin price had dipped below the 200-day SMA around the start of the bear market and had stayed there until very recently. In total, the crypto had spent 381 days below this level, before the latest rally came along and helped the coin finally escape above this line. In the chart, Glassnode has also highlighted the trend for the metric during the previous bear market. It looks like in that cycle as well, the crypto’s price had declined below the 200-day SMA as the bear began to take hold. Also, the eventual break above the level leads to the end of the bear market for the coin back then. Related Reading: Bitcoin Price Resumes Increase as The Crypto Bulls Take Control However, the most interesting of all is the duration that Bitcoin stayed below this level in that cycle: 386 days. Amazingly, this is very nearly the same number of days (381) that BTC took to break above the line in the current cycle. If this bizarre consistency is anything to go by, then the latest push above the 200-day SMA could mean the current bear market might be done as well. The chart also shows data for an indicator called the “Mayer Multiple” (MM) which gauges the current distance between the price of Bitcoin and the 200-day SMA. Its value is simply calculated by dividing the value of the crypto by the 200-day SMA. Bottoms in the crypto have usually taken place below the 0.8 MM level, which BTC is now firmly above. BTC Price At the time of writing, Bitcoin is trading around $20,800, up 21% in the last week. BTC consolidates just below $21,000 | Source: BTCUSD On TradingView Featured image from Andr\u00e9 Fran\u00e7ois McKenzie on Unsplash.com, charts from TradingView.com, Glassnode.com<\/p>\n","protected":false},"author":542,"featured_media":516213,"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":[428,87420,87353,86249,1119,1144,61309],"class_list":["post-516197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-200-day-sma","tag-bitcoin-cycles","tag-bitcoin-mayer-multiple","tag-btc","tag-btcusd","tag-glassnode"],"acf":[],"yoast_head":"\nGlassnode Points Out This Bizarre Consistency In Bitcoin Cycles<\/title>\n<meta name=\"description\" content=\"Glassnode has pointed out a bizarre consistency between the current and previous Bitcoin cycles in terms of a metric, here's what. Bitcoin Breaks Above\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/glassnode-consistency-bitcoin-cycles\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glassnode Points Out This Bizarre Consistency In Bitcoin Cycles\" \/>\n<meta property=\"og:description\" content=\"Glassnode has pointed out a bizarre consistency between the current and previous Bitcoin cycles in terms of a metric, here's what. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Glassnode Points Out This Bizarre Consistency In Bitcoin Cycles","url":"http:\/\/uniquehot.com\/news\/glassnode-consistency-bitcoin-cycles\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/glassnode-consistency-bitcoin-cycles\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/andre-francois-mckenzie-JrjhtBJ-pGU-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/andre-francois-mckenzie-JrjhtBJ-pGU-unsplash-scaled.jpg?fit=2560%2C1710"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin 200-day sma","bitcoin cycles","bitcoin mayer multiple","btc","btcusd","glassnode"],"dateCreated":"2023-01-16T14:33:13Z","datePublished":"2023-01-16T14:33:13Z","dateModified":"2024-06-11T11:25:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Glassnode Points Out This Bizarre Consistency In Bitcoin Cycles\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/glassnode-consistency-bitcoin-cycles\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/glassnode-consistency-bitcoin-cycles\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/andre-francois-mckenzie-JrjhtBJ-pGU-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/andre-francois-mckenzie-JrjhtBJ-pGU-unsplash-scaled.jpg?fit=2560%2C1710\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin 200-day sma\",\"bitcoin cycles\",\"bitcoin mayer multiple\",\"btc\",\"btcusd\",\"glassnode\"],\"dateCreated\":\"2023-01-16T14:33:13Z\",\"datePublished\":\"2023-01-16T14:33:13Z\",\"dateModified\":\"2024-06-11T11:25:29Z\"}<\/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\/2023\/01\/andre-francois-mckenzie-JrjhtBJ-pGU-unsplash-scaled.jpg?fit=2560%2C1710","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/516197"}],"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\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=516197"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/516197\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/516213"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=516197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=516197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=516197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}