Bitcoin market poised for potential bull trend resumption amid ongoing redistribution phases

Maksim Balashevich, CEO of crypto analytics firm Santiment, believes Bitcoin’s market conditions post-halving suggest a period of ongoing redistribution followed by a potential resumption of the bull trend. In a recent report, Balashevich and his team analyzed on-chain data to uncover nuanced behavioral patterns among market participants.

“The present and the future,” Balashevich stated in the report, is “a mix of news” for Bitcoin. He pointed to the Network Realized Profit/Loss (NRPL) metric, which “reveals patterns similar to those observed during the peak periods of 2013, 2017, and 2021.” Specifically, there appears to be a reluctance to realize profits, a trend evident in Santiment’s latest charts.

How To Get Free Crypto  

While some might view this as a sign of strong hands, Balashevich cautioned that “these ‘strong hands’ could become shaky ones” and potentially “mark the bottom once panic sets in.” However, he also noted a more positive indicator in the Mean Dollar Invested Age (MDIA) metric, suggesting that the market has been undergoing active redistribution for about 4-5 months.

“This suggests that the market may be gearing up to resume the bull trend, potentially leading to further redistribution over the typical 12-month cycle observed in past years,” Balashevich explained. As for who has been buying lately, Santiment’s supply distribution data reveals that predominantly smaller holders have been accumulating while whales remain stable.

Mid-sized holders, often called “sharks,” are declining their BTC balances, “maybe in favour of memecoins,” Balashevich quipped. He described the current setup as “where one would be warned to be cautious at least.”

Looking ahead, the Santiment CEO emphasized that the future outlook for Bitcoin varies “widely depending on your overall investment strategy, portfolio size, and risk tolerance.” Rather than focusing solely on predictions, he encourages investors to “ask the right questions.”

Coinbase Banner  

“The data, combined with your observations and analysis, will guide you to the answers best suited to your situation,” Balashevich advised. By examining historical trends and current metrics like NRPL, MDIA, and supply distribution, Santiment’s research aims to provide a comprehensive view of the complex market forces at play in Bitcoin’s post-halving environment.

While the future remains uncertain, Santiment’s analysis suggests that Bitcoin may be poised for further redistribution and potential bull market continuation, provided market participants stay vigilant and adapt their strategies accordingly.

Go to Source
Author: Liam ‘Akiba’ Wright

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

Crypto Renegade

Web developer with a keen interest in the disruptive potential of cryptocurrency and blockchain technology. Experienced investor in various markets, including equities, bonds, real estate, p2p lending, and cryptocurrency. Loves coming up with solid investment strategies based on objective data to mitigate emotional risk. Believes in dollar cost averaging for long term investing while keeping a small allocation in cash for larger market dips.

You May Also Like

More From Author

This site uses Akismet to reduce spam. Learn how your comment data is processed.