© Reuters. $1M Bitcoin Advocate Samson Mow Names Key BTC Price Indicators
U.Today – With the price (BTC) gradually reaching recovery mode, top advocate Samson Mow has shared a list of macro indicators he is following for the leading cryptocurrency.
Notable Bitcoin (BTC) Indicators
Samson Mow shared a total of 10 indicators that outline key price outlooks and macroeconomic events to watch out for. He named Bitcoin exchange-traded fund (ETF) entries as first on the list. Now that Bitcoin ETFs are trading in the US, more inflows could help cushion erratic sell-offs in retail prices.
Samson Mow's central projection of the BTC price reaching $1 million one day depends on capital inflows into spot Bitcoin ETF products. Beyond this, he noted that it's also worth looking at the network's hashrate. Since this metric has reached a new high as of late, further growth is expected before the next halving event.
Next on your list is the Finex Whale Accumulation Metric and the 200 WMA Trend. Surprisingly, he listed asset under management (AUM) (USDT) as an essential indicator to watch as the stablecoin forms the key liquidity base for the coin.
In addition to these on-chain indicators, Samson Mow also mentioned government debt interest payments, debt GDP ratios, Bitcoin adoption by nation states, real inflation, and M3 money. All of these indicators have a point of convergence that influences the long-term BTC price outlook.
Bitcoin Price Outlook
This list of macro indicators from Samson Mow comes at a crucial time, when the price of Bitcoin is worth $41,997.82 after a 1.1% drop in 24 hours. While the coin has consolidated above the $41,000 level, it is yet to print parabolic growth that would make it in line with expectations of timely Bitcoin ETF approvals.
At the current price level, Bitcoin is down 38.9% from its all-time high (ATH) of $68,789.63. For advocates like Samson Mow, the upcoming halving event will complement spot BTC ETF products to help revive the price of Bitcoin in the most dramatic way ever.
This article was originally published on U.Today.
