There are a number of varying metrics that Bitcoin analysts use to predict future price movements of the asset. One rarely used oscillator takes BTC energy value into account and it is flashing bullish at the moment.
Bitcoin Energy Value?
Okay, so this metric may not be as popular as other recently used ones such as NVT ratios or unadjusted transaction values, but it is still worth a glance.
The oscillator takes into account the bitcoin price as a percentage of its energy value. It works on the premise that raw Joules alone can be used to estimate a fair value for BTC.
Digital asset manager Charles Edwards has delved deeper into this little known metric and noted some major similarities with previous bitcoin market patterns.
“2019 looks VERY similar to the starting characteristics of prior bull runs.”
Energy Value Oscillator.
Bitcoin’s price as a percentage of its Energy Value.
2019 looks VERY similar to the starting characteristics of prior bull runs.
Just need to see that uptick in Hash Rates pic.twitter.com/zd82aHMlXt