Selling your Bitcoin holdings? You might want to take a look at this

We’ve been in a bear market for a while now, and it doesn’t look like it’s going to stop anytime soon. Of course we cannot forget it Bitcoin [BTC]the coin with the most market value and the one whose price fluctuations affect the market as a whole whether it is in an uptrend or a downtrend.

Here is AMBCryptos Price prediction for BTC for 2022-2023

The mining industry has likewise had its most trying year ever, with mining difficulties rises and income falls. However, there are indicators that Bitcoin’s value has actually increased over time, suggesting that the recent price action is not a collapse.

Calculations are less gloomy

Using the data provided by Santiment, we were able to observe that the average dollar investment age had reached an all-time high.

It was seen at over 66, the highest it had been over the years. This means that the coin distribution will be delayed for a while. The MDIA index has proven to be a reliable predictor of bull and bear markets when looking at historical data.

The MDIA rises to extreme highs during accumulation years like 2017. However, significant falls in the MDIA are correlated with subsequent price declines. Thus suggesting that BTC bought at expensive prices are returned to exchanges.

Source: Sentiment

Additionally, a look at the BTC supply distribution statistics revealed that in October there were more holders of 1000-10,000 BTC than there were in January of this year.

A review of distribution statistics also showed that from January to date, over 13,000 holders had consistently held between 100 and 1,000 BTC.

Source: Sentiment

73% down but not out

Examining the price trend of BTC going back as far as November 2021, it was clear that the price had been declining, as one would expect.

It had declined by more than 72% from the point it was in November 2021, when it was around $67,000. Although it was tested a couple of times, as could be seen on the chart; the trend line also acted as resistance.

Source: TradingView

Over a 900% growth in the price of BTC from $9,000 to the $56,000 range it traded in April 2021. The emphasis on the price range is crucial because historically it has been demonstrated that the percentage it can increase can be over 1000, while the percentage it can decrease cannot be greater than 100.

Source: TradingView

The outlook for BTC price movements may be bleak given the sentiment in the market as a whole.

However, a review of some key indicators and past price changes shows that BTC has held up quite well.

BTC’s decent run can further be clearly seen when the current state of the global economy and the poor performance of fiat are taken into consideration.