Да ли Битцоин [БТЦ] нуди краткорочну прилику за ЛТХ?

• Bitcoin transactions in million-dollar figures rose over the weekend and could offer a buying opportunity.
• Analyst says a $200 trillion market cap is possible but the positive sentiment was non-existent.

A 13 February market insight from Santiment opined that Битцоин [БТЦ] could present investors to buy at a discount. According to the on-chain platform, a short-term opportunity could be lurking especially as BTC decreased to $21,600 over the weekend.

Да ли је ваш портфолио зелен? Погледајте Битцоин калкулатор профита

These whales may have opened up the holes

Међутим, китови responded to the decline as the number of  $1 million transactions reached the highest since November 2022. As of 11 February, there were 479 transactions within the range but had decreased to 183 at press time.

🐳 #Битцоин у недељу је пао на 21.6 хиљада долара, а адресе китова су одговориле трансакцијама по највишој стопи у последња 3 месеца. Прочитајте наш најновији увид у заједницу, фокусирајући се на зашто $ БТЦ можда нуди краткорочно #буитхедип прилика. 🤑 https://t.co/YKwlMxS7br пиц.твиттер.цом/РКСЛ34з8КИБ

- Сантимент (@сантиментфеед) 13. фебруара 2023. године

Although the move might be considered significant, the BTC price reaction signaled a possible increase in large sell-offs. This inference was a result of the Market Value and Realized Value (MVRV) ratio. 

The metric acts as a measure of evaluating an asset’s value and a projection of investors’ route toward profitability. From the chart above, it can be seen that the two-year MVRV ratio was 33.83%.

Compared to the BTC trend over the first 44 days of the year, this could be an opportunity to accumulate for short-term gains. 

Prior to the weekend price decline, traders who stayed true to their BTC positive enthusiasm plunged into losses. 

Према Глассноде, long liquidations in the derivatives market reached a three-month high of $5.30 million on 9 February.

Since another value drop followed the liquidations, it signified Bitcoin’s resolve to remain in the red zone or consolidation. 

Извор: Глассноде

Glory comes in the long term

In the long term, several analysts seemed not to be interested in shifting their bullish projection. Adam Back mentioned that the next two halvings could propel BTC to a $200 trillion market cap.

While that might look like an overstretch, the famous cryptographer and hashcash inventor considered the 10-year trend to arrive at his projection.

почетком ове године био сам радознао због тврдње „биткоин 2к годишње у просеку“. проверава: деценија јануар 2013 – децембар 2022 #битцоин порасла 2.036к годишње (1200к за деценију). ако се то настави, прећи ћемо 10 милиона долара/БТЦ и 200 трила долара тржишне капитализације до краја наредна 2 преполовљења, око 9 година. пиц.твиттер.цом/мкмО2СРдАв

- Адам Бацк (@ адам3ус) 12. фебруара 2023. године

Other than the last decade’s trend, Back also evaluated the possible hyperinflation and increased adoption as reasons for his opinion. He tweeted,

„С обзиром на волатилност, мислим да биткоин може дивље премашити и искористити једну од ових тржишних капитализација од 100-300 билиона долара, исправити и затим повратити стабилније усвајање током времена.

Колико их је 1,10,100 БТЦ вреди данас?

Notwithstanding, the aura around Bitcoin remained at an extremely low level. According to Santiment, the positive sentiment was at 1926— a point it failed to hit since August 2022. 

Извор: Сантимент

This explains that investors were not necessarily optimistic about the coin price in spite of the opportunity presented. At the time of writing, BTC’s price still traded around $21,600.