When the price of an asset falls to the bottom, it may be a good time to "hoard". In the past four months, Bitcoin has been in this position, because so far, its price has not been able to penetrate the main resistance level of 4,000 US dollars, and always hovering around this price level.
(Image from the network)
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Bitcoin unspent transaction output is higher than January 2018
Bitcoin unsuccessful transaction output (UTXO) does not mean that people are not interested in such digital assets. In fact, on the contrary, this indicator has been rising in 2019 and has surpassed the historical high reached in January 2018.
For the Bitcoin blockchain, the unspent transaction output is an output that has not been used as a new input transaction. UTXO will be processed continuously and will be responsible for starting and ending each transaction. If the transaction is confirmed, the cost tokens in UTXO will be deleted.
During the cryptocurrency bull market in late 2017 and early 2018, Bitcoin did not spend 67 million transactions, but then fell sharply. However, since August last year, the situation has started to change, the number of unsuccessful transaction outputs has increased again, and it has increased significantly in 2019, and has recently surpassed the previous full-time high (ATH) – a sign that seems to indicate that people Being "coin".
The cryptocurrency analyst fil₿fil₿ stated on his Twitter account:
“UTXO is now surpassing the highest point in history and will accelerate in 2019, indicating that the market is accumulating bitcoin is true.”
Hodl waves are another indicator of people buying and holding Bitcoin. Historically, Bitcoin has accumulated in the market before the big bull market.
(Source: newsbtc )
It can be clearly seen from the above figure that “hodl of 2018” has begun to show signs of rising, and it is expected that it will rise all the way in the integration process.
For Bitcoin, April or the most crucial month
From historical data, in addition to the encrypted winters experienced in the past two years in 2014 and 2015, Bitcoin often rises in April each year. For example, in April 2018, bitcoin prices performed very strongly, with a 40% increase in the month and a 33% increase over the same period last year.
The change in bitcoin price in April of the previous year:
2011: +358%; 2012: +2% 2013: +43% 2014: -3.5% 2015: -3% 2016: +8% 2017: +29% 2018: +33.5% 2019 year: ? ? ?
Market watchers hope that bitcoin prices will also have a similar upward trend in April this year. From the current situation, “coin” may help push prices to break through the resistance level and become a breakdown of $5,000 or higher. catalyst.
At this stage, bitcoin prices have been hovering at $4,000, and the overall trend of the past month has been relatively positive. However, all the indicators are now pointing to a slow and steady accumulation. Let us wait and see if we can break through the new resistance level of $5,000 in April and stimulate continuous growth.