With Morgan Stanley stepping in, Bitcoin’s grayscale premium rebounds Christopher | The Capital | July 2021

On-chain data shows that Bitcoin is undervalued

From a technical point of view, hardly any changes Bitcoin/USD Chart since Monday. Bitcoin is wide-ranging, until one side gives way, there is nothing to see.

However, with Bitcoin’s decline, it is worth considering historical charts to contextualize the price.

Puell Multiple is such an important chart. It is calculated by dividing the daily circulation of Bitcoin (in U.S. dollars) by the 365-day moving average of the daily circulation. This indicator was created by David Puell and it has just issued a “buy” signal.


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