Bitcoin Hints Bullish, But Why It’s Far From Fresh Rally

Bitcoin continues with its crab-like price action as it moves around $45,000, and $50,000. As of press time, BTC’s price trades at $46,854 with 4.2% losses in the last day. Related Reading | TA: Bitcoin Fails Again, Can Bulls Save The Day? Operators seem to expect more profits in the short term as Bitcoin has historically seen gains at the end of every year. However, BTC’s price could remain rangebound for at least early 2022. After December 3rd crash into the lows at current levels, Bitcoin has struggled to maintain stability and has seen an increase in volatility. This could be the result of the violent move to the downside. In the coming weeks, data from Jarvis Labs suggest BTC’s price could regain some stability. The firm shared some indicators and their predictions for what could be in play as the year wraps up. According to Jarvis Labs Wealth Multiplier, a metric used to measure the period when buyers choose to cash in their funds at a loss or profit has been recording higher lows as it diverges with BTC’s price suggesting appreciation. This dynamic could be pointing at less volatility for Bitcoin. This matches with Jarvis Labs’ Price versus Circulation Ratio indicators which suggest the BTC has been very active in the past months. Standing at around 0.3, this metric needs to bottom at around 0.2 if the bulls want to reclaim momentum, as at the beginning of 2021. At that time, the Price versus Circulation Ratio was ...