New Bitcoin Indicator, Glassnode Suggests Looming Cryptocurrency Market Bull Run

New Bitcoin Indicator Suggests Looming Cryptocurrency Bull Run

New bitcoin indicator released by Glassnode; a blockchain market intelligence firm, is music to ears of the crypto community. The data company indicated that a major cryptocurrency bull run is on the horizon.

Will  the impending cryptocurrency bull run last?

However, Glassnode said that this time, the surge will be long term. As stated by the report, a great number of bitcoin addresses are showing “Unrealized” profits matching other big cryptocurrency bull runs.

What is “Unrealized profit” in crypto term and how is it calculated?

To arrive at an “Unrealized profit” number, one must calculate Bitcoin’s current market place against the last time the BTC was last transferred from a specific address.

The difference between the two bitcoin prices equals the “Unrealized profit.” Additionally, the term determines the number of traders holding into their digital assets.

What is Bitcoin Unrealized Profit?
Source: Glassnode

Bitcoin halving block rewards end is near

It’s all around good news for cryptocurrency and bitcoin. According to Jimmy Song, bitcoin’s educator and core developer, only 10000 blocks left before bitcoin halving.

BTC halving will is expected to occur between May 13-24. That’s when the last bitcoin will be mined. Bitcoin’s max supply is cap at 21m.

What are your thoughts on the new cryptocurrency bull run indicator?

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