A much-followed crypto strategist says Bitcoin (BTC) could boom next month as a result of one catalyst.
The anonymous host of InvestAnswers tells are 443,000 YouTube subscribers that another historic bull signal is about to occur.
According to the trader, when Bitcoin’s realized price (RP) is higher than its long-term realized price (LTH RP), the crypto king tends to fly.
The RP is the value of all BTC at the purchase price divided by the number of coins in circulation. The LTH RP is the average on-chain acquisition price for coins held outside the exchange reserves that have not moved in the past 155 days.
says the trader
“There is a Bitcoin catalyst that many people are talking about now and this is its history. If you look at the [Glassnode] chart here… Now the blue line represents the realized price of the long-term holder, and the yellow one [line] is the realized price of Bitcoin. And the reason this is a catalyst is the realized price is above the realized price of the long term holder and this is about $600 difference now every time this happens every time the flip happens i.e. the blue comes up the yellow, it usually results in a big rally.
According to the trader, the last two times the flip happened was also in the month of June, which increases the chances of it happening next month.
“Now the other really interesting thing about this is that this always happens in June, with the exception of 2012 when Bitcoin was very new. It happened in August 2012.
It happened in June 2016. It happened in June 2019. And will it happen in June 2023? That’s interesting to note. If so, there will be a meeting afterwards, ladies and gentlemen. Of course there is that little peak. Do you remember 2020? People say, ‘Oh, but it can submerge afterwards.’ Well, that dip was due to (Covid-19)…
In all other parts of history, it’s just from there. So pay attention to the realized price of the long-term holder, if it can exceed the realized price of Bitcoin. Remember we are so close now. That could be something exciting. And that’s why I titled the video today “The Next Bitcoin Catalyst.” Missile ship now.
Many people say, “Sell in May, get out.” If you see this happening in June, if this happens, it would be a mistake to sell and exit in May or short Bitcoin.”
Bitcoin is trading at $27,363 at the time of writing, up 1.05% in the past 24 hours.
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Image generated: Midway through the journey
