Kukumbit founder predicts significant upside for crypto-asset amid bullish signals for bitcoin network indicators
According to her, the network’s performance hints that bitcoin is forming a bottom:
“Based on our data, short-term holders have capitulated and that’s great news in terms of reaching a bottom. The share of long-term holders is at an all-time high of 65.7% (they have been holding BTC for at least a year). In addition, there are some very strong holdings, although there is the possibility of some of them capitulating to mark the bottom.”
In addition to network metrics, the Kukumbit Founder is watching the bitcoin futures market, hinting at a period of heightened volatility for the asset:
“BTC futures are selling at a discount to spot BTC and during such times, strong volatility is expected. It’s hard to say exactly which way it will be directed, but we believe there is a high probability that the next volatility spike will be in the upward direction.