Bitcoin (BTC) Crossover Hits All Lows, Follow This Signal for the Bulls!

A new post from Will Clemente, a popular analyst known for his on-chain analysis of Bitcoin.

In his analysis dated September 2, the analyst drew attention to a very rare intersection marking the bottom in Bitcoin history and stated that the bottom would come after a drop of $ 2000.

The analyst's expectation was partially fulfilled and Bitcoin has recently fallen back to the $18,000 level.

Did the Expected Intersection Happen?

Sharing the current table regarding this analysis, the analyst said the following:

"After months of waiting, the cost of short-term investors in Bitcoin has come below the cost of long-term investors.

This indicator is a bottom signal. Now we will wait for the average cost of short-term investors to rise above the cost of long-term investors for a bullish signal."

Source: Will Clemente via Glassnode

A closer look at the chart shows that the intersection occurred 1 day ago.

Source: Will Clemente via Glassnode

4th Time in BTC History!

This intersection, which has happened 3 times so far in Bitcoin history, has always marked the bottom in BTC.

It is not known whether history will repeat itself, but when we evaluate other indicators that show that we are at the bottom, we see that the bottom signals are increasing.

When we look at the chart, it is seen that Bitcoin moved horizontally for a certain period of time after this intersection in the past.

Macro indicators also reinforce expectations that the flat course will continue.

Considering that the worst is over after this data, we will wait for the red line (the cost of short-term investors) to cross the blue line (the cost of long-term investors) upwards for a bullish signal.

Time will tell if this sideways trend will be a good collection period for long-term investors.

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