CandleFocus Bitcoin’s Puell Multiple Signals A Bullish Surge: Could A New ATH Be Near?
2024-10-08
Author: Content Editor
Bitcoin has remained above the $60,000 level for the past couple of months, and analysts are speculating on its future trajectory. One analyst, CryptoBullet, has pointed to the Puell Multiple indicator as a potential signal that Bitcoin may reach a new all-time high. The Puell Multiple measures miners' profitability and their influence on Bitcoin's price. Historically, when the Puell Multiple enters the "Green Zone," it indicates that Bitcoin may have reached a market bottom and is poised for an upward trend. CryptoBullet believes that Bitcoin is in the early stages of its next significant leg up, suggesting a potential breakout to a new all-time high is imminent.
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