Crypto analyst Jamie Coutts discusses various indicators he monitors to gauge when the market might turn bullish. He notes that the cryptocurrency market has seen a 55% pullback over the past six months but believes the risk/reward ratio is favorable for investing in select digital assets at current levels. Coutts highlights the surge in the altseason indicator, which measures altcoins' outperformance of Bitcoin, but cautions that this may be short-lived without a sustained Bitcoin rally. He suggests investing in altcoins when they are trending upward not only on the absolute price chart but also on the relative price chart. Coutts identifies the percentage of digital assets above their 200-day moving average as a key metric to determine bullish territory, with only 11% currently meeting this criterion. Despite the market downturn, certain fundamental metrics within the crypto ecosystem have increased in the past six months. Coutts anticipates a bull market when prices and fees begin to trend upward together.
- Content Editor ( newsbtc.com )
- 2024-09-20
Crypto Analyst: Bull Market Hinges On This Indicator Reaching 45%