Bitcoin Advocate Samson Mow Shares Key BTC Price Indicators
As the BTC price gradually enters recovery mode, Samson Mow, a prominent Bitcoin advocate, has revealed a list of macro indicators that he is closely monitoring for the major cryptocurrency.
Notable Bitcoin (BTC) indicators
Samson Mow has outlined 10 indicators that revolve around crucial price outlook and macro events to keep an eye on. The first indicator on his list is the Bitcoin Spot Exchange Traded Fund (ETF) inflows, given the recent introduction of Bitcoin ETFs in the U.S. More inflows are expected to help mitigate volatile retail price sell-offs.
According to Mow, the influx of capital into spot Bitcoin ETF products is crucial for his projection of the BTC price hitting $1 million someday. Additionally, he emphasized the significance of monitoring the network hashrate, which has been steadily increasing and is expected to lead to higher growth ahead of the next halving event.
Other indicators highlighted by Mow include the Finex whale accumulation metric, the 200 WMA trend, and the (USDT) Asset Under Management (AUM) as a key liquidity base for Bitcoin.
Mow also pointed out on-chain indicators such as government interest payments on debt, Debt GDP ratios, nation state Bitcoin adoption, real inflation, and M3 Money, all of which are expected to influence the BTC price outlook in the long term.
Bitcoin price outlook
Mow’s macro indicator listing comes at a crucial juncture, with Bitcoin’s price currently standing at $41,997.82 after a 1.1% drop in 24 hours. Despite consolidating above the $41,000 level, Bitcoin is yet to exhibit the anticipated parabolic growth following the approval of spot Bitcoin ETF products.
At the current price level, Bitcoin is down 38.9% from its all-time high (ATH) of $68,789.63. Mow remains optimistic, believing that the forthcoming halving event, combined with the introduction of spot BTC ETF products, will catalyze a dramatic revival in Bitcoin’s price.
This article was originally published on U.Today
