Will Bitcoin's Price Go Up Again? Yes, According to On-Chain Analytics - Ep.244

Willy Woo, on-chain Bitcoin analyst and writer of the Bitcoin Forecast, a market intelligence newsletter, and Rafael Schultze-Kraft, co-founder and CTO of Glassnode, discuss Bitcoin and what the on-chain metrics tell us about the price. Here to discuss is. Episode highlights:
● what factors pushed the price of BTC down in May
● why Elon’s Twitter account hold so much sway over the market
● why Willy believes Bitcoin is good for renewable energy
● who sold during the last month
● which type of BTC investors stopped purchasing in Feb/March
● what trends Willy and Rafael have noticed from coins moving to/from exchanges
● their thoughts on exchange-traded products, like GBTC and Canadian ETFs
● how derivatives trading has played a role in Bitcoin’s price
● why stablecoins were trading above their peg in the months leading up to the Coinbase direct listing
● how Willy values Bitcoin (specifically using NVT ratio)
● whether the trend of corporate treasuries investing in Bitcoin will continue
● how they expect Ethereum's adoption of a deflationary monetary policy to impact the price of Bitcoin
● when the market could turn bullish once again and predictions for the rest of the year

Thank you to our sponsors!
E&Y: https://ey.com/globalblockchainsummit
Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2
Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero

Episode Links

Willy Woo
Twitter: https://twitter.com/woonomic
Substack: https://willywoo.substack.com/
Charts: http://charts.woobull.com/

Rafael Schultze-Kraft
Twitter: https://twitter.com/n3ocortex
Glassnode Blog: https://insights.glassnode.com/author/rafael/
Medium (no posts in 2021): https://medium.com/@neocortex

Glassnode
Website: https://glassnode.com/
Twitter: https://twitter.com/glassnode
Crunchbase: https://www.crunchbase.com/organization/glassnode

Willy on BTC trends:
NVT 2021 re-hash: https://twitter.com/woonomic/status/1399644889596370950
User growth on BTC network: https://twitter.com/woonomic/status/1396716391940575232
Exchange flows are bullish: https://twitter.com/woonomic/status/1395350421187690500
The movement to strong holders is unprecedented: https://twitter.com/woonomic/status/1391209800252358658
BTC undervaluation: https://twitter.com/woonomic/status/1389145220432859144

Rafael on BTC trends:
Investors becoming fearful: https://twitter.com/n3ocortex/status/1394922200923312132
Bear market?: https://twitter.com/n3ocortex/status/1394312942678679559
Why on-chain exchange metrics are difficult to analyze: https://insights.glassnode.com/exchange-metrics/
BTC ownership is not highly concentrated: https://insights.glassnode.com/bitcoin-supply-distribution/
BTC illiquidity: https://insights.glassnode.com/bitcoin-liquid-supply/

Glassnode on BTC trends:
May 31 recap: https://insights.glassnode.com/the-week-on-chain-week-22-2021/
May 24 recap: https://insights.glassnode.com/the-week-on-chain-week-21-2021/
December buyers approaching cost basis: https://twitter.com/glassnode/status/1399757635512066052
Battle of Bulls vs. Bears: https://twitter.com/glassnode/status/1399231089764360192
Grayscale discount: https://twitter.com/glassnode/status/1397059742019686400
Deleveraging futures market: https://twitter.com/glassnode/status/1395771367958581251

++++++++++++++++++++++++

FOLLOW THE UNCHAINED and UNCONFIRMED PODCAST!

MERCHANDISE → https://shop.unchainedpodcast.com/
WEBSITE → https://unchainedpodcast.com
NEWSLETTER → https://unchainedpodcast.com/category/newsletters/
FACEBOOK → https://www.facebook.com/UnchainedPodcast/
TWITTER → https://twitter.com/unchained_pod
YOUTUBE → https://www.youtube.com/channel/UCWiiMnsnw5Isc2PP1to9nNw/
LINKEDIN → https://www.linkedin.com/in/laurashin/

++++++++++++++++++++++++

NEW EPISODES OF UNCHAINED EVERY TUESDAY!
NEW EPISODES OF UNCONFIRMED EVERY FRIDAY!

Apple → https://podcasts.apple.com/us/podcast/id1123922160?ls=1
Google Podcast → https://www.google.com/podcasts?feed=aHR0cDovL3VuY2hhaW5lZC5saWJzeW4uY29tL3VuY2hhaW5lZA%3D%3D
RSS Feed → https://unchained.libsyn.com/unchained
Spotify → https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w
Stitcher → https://www.stitcher.com/podcast/forbes-podcast-network/unchained-big-ideas-from-the-worlds-of-blockchain-and-fintech
TuneIn → https://tunein.com/podcasts/Business-News/Unchained-Big-Ideas-From-The-Worlds-Of-Blockchain-p887100/
Youtube → https://www.youtube.com/playlist?list=PLySrw1Nvf-spgSyIkuj8mgibH-ipcUGrs
Website → https://unchainedpodcast.com/category/unchained/

++++++++++++++++++++++++

YOUR NO-HYPE RESOURCE FOR ALL THINGS CRYPTO!

++++++++++++++++++++++++