Is Bitcoin Too Expensive? This Indicator Reveals the Facts!

Bittime - In the ever-changing world of cryptocurrency, the question of whether Bitcoin (BTC) has become too expensive remains relevant. One indicator that can provide insight is Adjusted Spent Output Profit Ratio (aSOPR), which recently showed a value of 1.01 for the 150-day moving average.

What is aSOPR?

aSOPR is a metric that measures whether Bitcoin investors sell their coins at a profit or loss. If the selling price of a coin is higher than the price when it was purchased previously, then the sale is considered a realized profit. Conversely, if the selling price is lower, it indicates a loss.

This indicator only considers significant transactions by ignoring transactions that occurred in less than an hour, to produce more relevant data.

Also Read: City Holder Daily Combo 24 October, Here's the Answer!

aSOPR Latest Trends

A graph depicting the trend of aSOPR over the last 150 days shows that this value has remained above 1 throughout the year, indicating that overall, investors realized more profits than losses. At the beginning of the year, aSOPR reached 1.04 when investors took advantage of rising prices.

However, as time goes by and market consolidation occurs, the aSOPR value has now decreased to 1.01. The analysis shows the existence of two important zones in the aSOPR value. The zone below 0.98 often marks the lowest point, where investors experience large losses, while the zone above 1.08 usually marks the highest point due to aggressive profit taking by large investors or whales.

Bitcoin Accumulation Strategy

Further analysis recommends that accumulating Bitcoin until aSOPR reaches 1.04 could be a solid strategy for long-term profits. Paying attention to whale behavior in the market can also provide clues about the right time to buy.

Current Bitcoin Price

Bitcoin prices experience significant fluctuations. After falling to the level of $65,000 (around Rp. 1,008,000,000), now the price of BTC has recovered and is at around $67,100 (around Rp. 1,020,000,000). This shows that despite consolidation, the Bitcoin market remains attractive to many investors.

By utilizing aSOPR and monitoring price trends, investors can make smarter decisions about whether or not now is a good time to accumulate Bitcoin.

How to Buy Crypto on Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.