CandleFocus

Bitcoin’s Puell Multiple hints at a potential 90% price rally

Author: Content Editor
The Puell Multiple, a key indicator for analyzing Bitcoin mining profitability, is approaching a breakout above its 365-day moving average. This signal has historically led to significant price rallies for Bitcoin, with average gains of 90%. Past instances of this crossover have resulted in price increases of 83%, 113%, and 76%. The Puell Multiple calculates the ratio between the daily value of newly issued Bitcoin and its 365-day moving average, providing insights into mining economics and market cycles. By identifying deviations from historical norms, the indicator can help investors identify entry and exit points. The current breakout suggests the potential for a surge of up to 90%. Observers also note that this pattern coincides with expectations of monetary policy shifts, which could further impact Bitcoin's price.

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