This might appear like a bad time for you to be selling bitcoin, with BTC currently languishing from the $3,600 territory. But that represents a 74 percent drop derived from one of year ago, that doesn’t signify current sellers are offloading their coins puzzled. Adopters who acquired their coins before early 2017 could sell them now let's talk about a minimum 3x profit – and potentially multiples more. The report notes “we can assume … older [BTC] owners have exhausted most of their selling efforts, evident inside flattening of … older UTXO bands, in addition to the one year UTXO band reaching a floor and staying flat from the first one half of 2018.” It continues:
In the second one half of 2018, the 12 months UTXO band did start to exhibit a good growth trajectory directly in tandem using the 1-2 year band as older UTXO bands remained flat. We’re seeing a buildup process now exactly like the one after 2014. This would imply a bottom is within sight.
Using some clever calculations, determined by historical analysis of the Bitcoin blockchain along with the activity of UTXO bands, grouped by age, Delphi Digital has endeavored to predict in the event the peak holding minute rates are likely to next peak. The date it’s arrive at is April 2020. The authors believe this conclusion is bolstered by positive exogenous events including “the scheduled launch of Bakkt (Early 2019) and Fidelity’s custody solution (being made generally easily obtainable in early 2019).” Should Delphi Digital’s prediction come to pass, UTXO analysis will gain newfound respect among traders wanting to time market cycles.
What are the thoughts on Delphi Digital’s UTXO report and 2020 price prediction for BTC? Let us know inside the comments section below.