Pseudonymous on-chain analyst and CryptoQuant author “OnChain Edge” has predicted that Bitcoin (BTC) would hit $150,000. According to OnChain Edge, he used two different methods to check the possibility and both of them gave the same result.
In both scenarios, the analyst considered the Net Unrealized Profit/Loss (NUPL). Values over zero of the NUPL suggest that most holders are in profit and there could be a motive to drive sell pressure.
On the other hand, when the NUPL is less than zero, it implies that most participants are at a loss, indicating low sell pressure. OnChain Edge’s first scenario was that the sup…
The post Can Bitcoin Reach $150,000? Analyst Dives In appeared first on Coin Edition.
Pseudonymous on-chain analyst and CryptoQuant author “OnChain Edge” has predicted that Bitcoin (BTC) would hit $150,000. According to OnChain Edge, he used two different methods to check the possibility and both of them gave the same result.
In both scenarios, the analyst considered the Net Unrealized Profit/Loss (NUPL). Values over zero of the NUPL suggest that most holders are in profit and there could be a motive to drive sell pressure.
On the other hand, when the NUPL is less than zero, it implies that most participants are at a loss, indicating low sell pressure. OnChain Edge’s first scenario was that the sup…
The post Can Bitcoin Reach $150,000? Analyst Dives In appeared first on Coin Edition.