Tuesday, February 7, 2023
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
BitScoop
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • ANALYSIS
  • REGULATIONS
  • SCAM ALERT
CRYPTO MARKETCAP
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • ANALYSIS
  • REGULATIONS
  • SCAM ALERT
CRYPTO MARKETCAP
BitScoop
No Result
View All Result
Home Bitcoin

Bitcoin NUL Suggests Extra Draw back To Come Earlier than The Backside

by BitScoop
June 4, 2022
in Bitcoin
Reading Time: 3 mins read
A A
0
Share on FacebookShare on Twitter


On-chain knowledge exhibits the Bitcoin NUL indicator continues to be under a worth of 0.5, an indication that extra downtrend may very well be in retailer for the crypto earlier than the underside is in.

Bitcoin Web Unrealized Loss Surges Up, However Nonetheless Stays Under 0.5

As identified by an analyst in a CryptoQuant publish, the cryptocurrency’s worth should still be nowhere close to a backside.

The related indicator right here is the “web unrealized loss” (or NUL in short), which tells us concerning the complete variety of cash which are at the moment holding an unrealized loss.

The metric works by evaluating the final promoting worth of every coin on the chain to the present worth of Bitcoin. If the earlier earlier of any coin was greater than the present one, then that coin is holding a loss proper now.

Then again, the present worth being greater than the final promoting worth would suggest that the coin is in revenue in the mean time.

Associated Studying | Bitcoin Falls Under $30k As 10k BTC Movement Into Gemini

The NUL metric solely takes under consideration the previous kind of cash. One other indicator, the online unrealized revenue (NUP), measures the latter class.

Now, here’s a chart that exhibits the development within the Bitcoin NUL over the historical past of the coin:

Bitcoin NUL

The worth of the indicator appears to have been rising just lately | Supply: CryptoQuant

Within the above graph, the quant has marked the 2 totally different zones of the Bitcoin NUL, with the metric worth equal to 0.5 line being the divider between them.

It seems like traditionally, the worth of the crypto has tended to look at the foremost bottoms when the indicator’s worth has been better than 0.5

Associated Studying | Can FTX Token (FTT) And Parody Coin (PARO) Be a part of Bitcoin (BTC) As The Largest Cryptocurrency In 2022?

As you possibly can see within the chart, the NUL metric has noticed some uptrend in current months. It is because the worth of Bitcoin has been declining throughout this era, resulting in extra cash going underwater.

Nevertheless, regardless of this current rise, it looks as if the online unrealized loss’ present worth continues to be effectively under the 0.5 degree.

If previous development is something to go by, Bitcoin might observe additional downtrend within the coming future earlier than the NUL’s worth exceeds the edge and a backside is shaped.

BTC Value

On the time of writing, Bitcoin’s worth floats round $29.7k, up 3% within the final seven days. Over the previous month, the crypto has misplaced 23% in worth.

The under chart exhibits the development within the worth of the coin during the last 5 days.

Bitcoin Price Chart

Seems like the worth of the crypto has gone down during the last couple of days | Supply: BTCUSD on TradingView
Featured picture from Unsplash.com, charts from TradingView.com, CryptoQuant.com



Source link

Related articles

Crypto Bank Juno Resumes Services After Pause

February 7, 2023

Digital Currency Group And Genesis Reach Restructuring Agreement With Creditors

February 7, 2023
Tags: altcoinsBitcoinbitcoin pricebitcoin updatesbitscoopBottomcrypto newscrypto updatesDownsidelatest bitcoin newsNULSuggests
Share76Tweet47
Previous Post

caída del mercado provoca recorte de 65% para objetivos de precios de acciones

Next Post

New York senate passes invoice that might ban crypto mining within the state

Related Posts

Crypto Bank Juno Resumes Services After Pause

by BitScoop
February 7, 2023
0

In addition to resuming its crypto services, the bank has also debuted several new features. Those include support for more...

Digital Currency Group And Genesis Reach Restructuring Agreement With Creditors

by BitScoop
February 7, 2023
0

The plan would see the sale of Genesis alongside other measures in a deal reached with DCG and Gemini Trust...

Ark Invest Expects Bitcoin to Become a Multitrillion-Dollar Market — Predicts BTC Price Could Reach $1.48 Million – Markets and Prices Bitcoin News

by BitScoop
February 7, 2023
0

Investment management firm Ark Invest says bitcoin is “likely to scale into a multi-trillion dollar market.” In its new report,...

Render Token (RNDR) Price Prediction: Is $2 Achievable For This Digital Asset?

by BitScoop
February 6, 2023
0

Join Our Telegram channel to stay up to date on breaking news coverage Render Token (RNDR) price increased by 5%...

How Checks VV Drove The Latest ‘Open Edition’ NFT Meta

by BitScoop
February 6, 2023
0

Don’t check, verify. It’s one of the few resounding crypto-native statements that has stuck over the years. NFTs are like...

Load More
Next Post

New York senate passes invoice that might ban crypto mining within the state

German Neobroker Commerce Republic Earns $5 Billion Valuation; Binance Labs Secures $500 Million to Fund Web3

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest

Filecoin Creator Protocol Labs Announces Layoffs Amid Crypto Winter and Economic Downturn – Bitcoin News

February 5, 2023

Celsius Floats Possibility of Debt Token to Repay Creditors; Secures Court Approval to Process Customer Withdrawals – Bitcoin News

January 25, 2023

Poland’s Consumer Protection Agency Opens Case Against Cryptocurrency Exchange – Exchanges Bitcoin News

January 15, 2023

FBI seizes $100,000 in cryptocurrency and NFTs

February 4, 2023

Neobank N26 Exapnds Crypto Trading to 5 New Countries

January 17, 2023

Questions about ERC20 Tokens

January 22, 2023

Crypto Bank Juno Resumes Services After Pause

February 7, 2023

The Market Has Decided a Recession Is Coming, Says Mad Money’s Jim Cramer – Economics Bitcoin News

February 7, 2023

How regenerative finance can ease climate change and boost bottom line

February 7, 2023

Digital Currency Group And Genesis Reach Restructuring Agreement With Creditors

February 7, 2023

Ark Invest Expects Bitcoin to Become a Multitrillion-Dollar Market — Predicts BTC Price Could Reach $1.48 Million – Markets and Prices Bitcoin News

February 7, 2023

Render Token (RNDR) Price Prediction: Is $2 Achievable For This Digital Asset?

February 6, 2023
Facebook Twitter LinkedIn Tumblr
BitScoop

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Bitscoop

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Bitscoop.
Bitscoop is not responsible for the content of external sites.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • ANALYSIS
  • REGULATIONS
  • SCAM ALERT

Copyright © 2022 - Bitscoop.
Bitscoop is not responsible for the content of external sites.