According to the analytics tool, Santiment, there’s a significant sign suggesting an upcoming bull market based on their examination of the Mean Dollar Invested Age. This indicator monitors the typical age of funds held in a digital wallet and has recently provided intriguing findings.
During the examination, Santiment found that a decreasing average investment age for Bitcoin in analyses tends to align with past bull markets. Notably, this pattern emerged from late October 2023 to the end of March 2024, leading to an impressive 133% price increase for Bitcoin within this timeframe.
Among crypto traders eagerly anticipating a resumption of the bull run after a month of volatile price movements, the Mean Dollar Invested Age is a crucial indicator to monitor. This metric calculates the average length of time that dollars have been held in a specific asset within a wallet.
— Santiment (@santimentfeed) April 12, 2024
The platform noted that a declining Average Dollars Invested Age signals investments are being recycled more frequently, suggesting higher network activity. On the other hand, an uptrend in this measure may indicate sluggish investment movements and reduced network activity.
Although Santiment’s recent findings indicate that the Mean Dollar Investment Age has come to a standstill, in spite of the forthcoming Bitcoin halving. The team at Santiment posits that significant investors need to transfer their coins back into circulation to decrease this metric and ensure the bull market persists.
Interested parties keep a keen eye on this new trend, believing that the Average Dollar Investment Age may hold important clues about the crypto market’s potential trends ahead.
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2024-04-13 11:32