en.bitcoinsistemi.com
While Bitcoin (BTC) and altcoins have experienced sharp declines in recent days, Santiment said that an overlooked indicator is giving a bullish signal.
Accordingly, Santiment shared that the “Mean Dollar Invested Age” data is often overlooked in the market.
Santiment said that although the market experienced a significant decline, the metric supports the continuation of a long-term uptrend.
According to Santinment data, the average investment age of Bitcoin is 439 days, XRP is 865 days, and Dogecoin is 370 days, he said, adding that BTC's investment age has decreased by 31 percent in the last 60 weeks, XRP by 22 percent in 14 weeks, and DOGE by 31 percent in 8 weeks.
“One of the most overlooked metrics in the crypto world, the Average Dollar Investment Age, is showing bullish signals despite the broader market pullback this week.
Average Age of Investment:
BTC 439 days (31% younger in 60 weeks) XRP 865 days (22% younger in 14 weeks) DOGE 370 days (31% younger in 8 weeks)
According to Santiment, when a cryptocurrency’s Average Dollar Investment Age line moves downward, it indicates that old and dormant wallets are reviving, putting their coins back into circulation and increasing network activity.
Referring to the bull markets in 2017 and 2021 specifically for this indicator, Santiment said that the rally did not stop until the average age of the relevant assets started to increase again.
Pointing out that this indicator follows the same path in 2024, Santiment said that price fluctuations may continue in the short term, but this indicator gives an upward signal in the medium and long term.
https://twitter.com/santimentfeed/status/1866663451252154637
*This is not investment advice.