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01.02.2023

The shock growth of the Bitcoin rate at the beginning of 2023 slightly reduced the losses of crypto investors and miners and at the same time gave hope to the whole world that the trend is unfolding.
The Adjusted SOPR indicator is testing the resistance level of 1.0, the passage of which may be the end of the bear market.
The same conclusion was made on the basis of the analysis of the executed transactions loss / profit in terms of btc / euro.
According to the results of the previous week, the value of this indicator crossed the 1.0 mark.

Price resistance is also revealed in terms of technical analysis. Financial sector experts pointed to the excess of the price of Bitcoin over the 200-day simple moving average from the bottom up near 19,000 euros. For 381 days prior, quotes were below this mark.

In the previous bear cycle 2018-2019, this period lasted 5 days longer.

The situation has also improved for miners. The regression model linking the price of bitcoin and the complexity of its production indicates the average cost of mining 1 BTC at the level of 18,795 euros.