Bitcoin [BTC] Maximists look closely at these factors with the $ 21k aim
As the Q3 of 2022 began in a good way, it can be safe to say that the Bitcoin maxi fever is also increasing in the crypto community. Despite the confirmation of Celsius’ bankruptcy, there is growing hope among Bitcoin [BTC] maxis. While their beloved coin swims in shallow water, consensus is proposed for a sharp increase. Where does BTC go from here?
“We are the winners!”
Bitcoin optimism has increased in recent weeks with renewed data that reflects society’s hopes. Social calculations see sharp increases covered by analysis platforms. Sentiment data records mentioning “#lambo” and “#moon” have increased dramatically with BTC’s almost 8% jump in July. These reviews are at their highest since way back in January 2018, as shown in the data chart below.
Source: Santiment
Historically, these mentions are a sign of growing trade optimism in the crypto community. Another prominent has been pointed out by a renowned cryptanalyst Ali Martinez. He recently reported that the BTC balance on stock exchanges has reached a low level of four years.
He also stated that “The last time the BTC balance on stock exchanges was below 2.38 million BTC was at the end of July 2018 when Bitcoin traded for around $ 8,000.”
Source: Ali Martinez / Twitter
Another important indicator has been released by Plan C in a recent analysis on Twitter. The analysis covers the worst capitulation in the last decade with the June capitulation topping the list. In the period from 14 June to 23 June, around 1.06 million BTC were under-realized losses.
WORST capitulation events, last 10 years.#BTC Nominal realized losses, 10-day period.
1060k | 14. – 23. June 2022
952k | 12. – 21. March 2020
841k | November 28 – December 7, 2018
Top capitulation already?
⬛️ 352k | 7. – 16. July 2022#Crypto #Bitcoin pic.twitter.com/knd0ws48Bt– Plan © ️ (@TheRealPlanC) July 16, 2022
But between July 7 and 16, only around 352k BTC of under-realized losses remain. This particular factor signals an improved sense of trade, with Plan C rhetorically asking, “Is capitulation already top?”
To the moon, soon?
The combination of these signals sheds light on the growing optimism in the Bitcoin community. The maxis have taken to social media in recent weeks as the wait continues for BTC to reach $ 21k. In a recent report, it was observed that one in three active discussions on social media is about Bitcoin. This calculation reached a 13-month high last week along with a growing positive comment for Bitcoin on social media.
