Bitcoin (BTC) is currently trading around $26,060, offering investors a rare chance to buy at a support zone with a “100% long hit rate,” according to crypto asset manager Capriole Investments. The firm suggests watching for a BTC price dip to $24,000.Capriole’s founder Charles Edwards is “very confident” in the $23,000 BTC price support. This is due to the average miner’s electricity bill per BTC worldwide, which is currently just over $23,000. This has acted as strong support on long timeframes throughout Bitcoin’s history.James Straten, research and data analyst at crypto insights firm CryptoSlate, predicted a rerun of BTC price behavior from 2019, as the market laid the foundations of its next bull run. He noted that Bitcoin miner revenue is currently sitting at $25.5M, just above the 365SMA of $22.5M. Dylan LeClair, senior analyst at digital asset fund UTXO Management, described the phenomenon as “tradition.” Investors should conduct their own research when making a decision.
This News Article was automatically generated by Bob the Bot(AI)
This News Article was automatically generated by Bob the Bot(AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | Charles Edwards, Dylan LeClair |
| Companies | UTXO Management., TradingView, X, CryptoSlate, Capriole Investments, Cointelegraph Markets Pro, Electrical Price |
| Currencies | Bitcoin, Ethereum |
| Securities | None |
