According to InvestAnswers, this catalyst could send Bitcoin (BTC) higher again in June
A widely-regarded crypto strategist says Bitcoin (BTC) could take off next month due to a catalyst.
The InvestAnswers anonymous moderator tells his 443,000 YouTube subscribers that a historic bull signal is about to reoccur.
According to the trader, when Bitcoin’s realized price (RP) exceeds the holder’s long-term realized price (LTH RP), the crypto king tends to fly.
The RP is the value of all BTC at the purchase price divided by the number of coins in circulation. The LTH RP is the average on-chain acquisition price for coins held outside of FX Reserves that have not moved in the last 155 days.
says the dealer
“There’s a bitcoin catalyst that a lot of people are talking about right now, and that’s the story.” If you look at that [Glassnode] Chart here… Now the blue line represents the price realized by the long-term holder, and the yellow one [line] is the realized bitcoin price. And the reason this is a catalyst is that the realized price goes up above the holder’s long-term realized price, and that’s about a difference of about $600 now, every time that happens, every time , when the reversal takes place, i.e. the blue value rises above the yellow value, it usually results in a big rally.”
Source: InvestAnswers/YouTube
According to the trader, the reversal also happened the last two times in June, increasing the likelihood that it will happen next month.
“The other really interesting thing is that this always happens in June, with the exception of 2012 when Bitcoin was very new. It happened in August 2012.
It happened in June 2016. It happened in June 2019. And will it happen in June 2023? That’s an interesting thing. If so, there will be a rally afterwards, ladies and gentlemen. Of course there is this little tip. Do you remember 2020? People say, “Oh, but it may dip after that.” Well, that drop was due to (Covid-19)…
In all other parts of the story, it only goes further up. So be aware that the long-term holder’s realized price may exceed the realized price of Bitcoin. Remember, we’re so close right now. That could be an exciting thing. And that’s why I titled the video today, The Next Bitcoin Catalyst. rocket ship now.
A lot of people say, “Sell in May, walk away.” Given that this is happening in June, it would be a mistake to sell in May and then walk away or go short Bitcoin.”
Bitcoin is trading at $27,363 at the time of writing, up 1.05% over the past 24 hours.
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