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The available market capitalization of Bitcoin has broken another all-time high and exceeded $ 400 billion. Available price and market capitalization is an on-chain trend that we follow very closely in Deep Dive, because available price is basically the basis of the average cost of all bitcoins in the network.
The available market capitalization breaks down to $ 400 billion, with Bitcoin available at মূল্য 21,250.
When analyzing the price history of Bitcoin available, we can identify the obvious trends that identify the underlying market trends. First covered by The Deep Dive on the Daily Dive # 022 in July, the available price gives a very clear view of the state of the Bitcoin market cycle. When the available price is rapidly evaluating, it means that Bitcoin is in a bull market (green). This happens when a new wave of entrants enters the market and tries to secure their part of the network, which puts a big bid on the market.
At the same time, the price is going parabolic (due to the basic supply / demand imbalance) Older holders take some chips out of the table and appreciate the dynamics of the currency exchange, the available price / cap quickly.
Conversely, during bear market (red), coins are spent at a loss (compared to when they were originally acquired) below the available price trend. However, it is important to note that the available price is much lower than the market price / market capitalization, which is subject to the reflective stage of the bull market.
Finally, during the market cycle performance (yellow), you will see prices remain stable or rise slightly as the currency shifts from weak hands to strong hands, from speculators to guilty HODLers.
Although some may argue that we have been in a constant bull market since halving in May 2020, looking at price trends we observe a bull market from October 2020 to May 2021, a brief two-month beer market and now the reunion season. . The next parabolic bull trend.
Some may argue that the recent ward upward trend reflects the fact that Bitcoin is structurally a bull market, but it is important to note the operand of the uptrend on a logarithmic scale that Bitcoin is a real reflection of the bull race. When viewed from a linear scale (chart above) from a perspective, it may look like a bull market, but in a logarithmic position with multiple cycle scenarios it is clear that we are in the storage phase, coiled for the next parabolic bull market move. The arrows below display the price options available at each market level.