Can This Bitcoin Ratio Have Hints For A Bottom?

Past trend of the Bitcoin actual/realized price ratio may be forming a pattern that could hint at a possible bottom for the crypto at $17k. Bitcoin Actual/Realized Price Ratio Currently Has A Value Of 0.8 As pointed out by an analyst in a CryptoQuant post, historical data of this BTC ratio may have interesting implications for the current market. The realized cap is a capitalization model for Bitcoin that multiplies each coin in the circulating supply with the price at which the coin was last moved and takes the sum of all the values. This is different from the usual market cap, where the entire supply is simply multiplied by the current price of BTC to get the capitalization. Now, from this realized cap, a “realized price” can also be obtained by dividing the metric with the total amount of coins in circulation. Related Reading | New Bitcoin Record Paints Incredibly Bearish Picture As BTC Struggles At $19,000 The “actual/realized price ratio” is, therefore, an indicator that measures the ratio between the normal price of BTC and this new realized price. Here is a chart that shows the trend in this Bitcoin ratio over the last few years: Looks like the actual price is lesser than the realized one at the moment | Source: CryptoQuant In the above graph, the quant has highlighted the major bottoms during previous Bitcoin cycles and the value of the actual/realized price ratio at which they occurre...