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    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

    The Sandbox Token (SAND) Eyes $1 On This Bullish Signal

    Uniswap Labs Acquires NFT Startup Genie

    Uniswap Labs Acquires NFT Startup Genie

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    NFT Collection Doodles Sees 400% Spike In Volumes On This

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    Economic Fail Or Key To A Creative Future?

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    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

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    OpenSea Tightens Security To Prevent NFT Scams And Fraud

    OpenSea Tightens Security To Prevent NFT Scams And Fraud

  • Metaverse
    Demystifying Metaverse Competition - NFT News Today

    Demystifying Metaverse Competition

    The Go-To Marketplace For All Things Metaverse

    The Go-To Marketplace For All Things Metaverse

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    The Web 3 LAND Sale

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    Disney Metaverse

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    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

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    Man wearing smart glasses touching a virtual screen to access the metaverse

    How The Metaverse Can Change Mental Health For The Better

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

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  • Analysis
    Bitcoin

    Bitcoin Price Eyes Upside Break, Why BTC Could Surge to $23K

    bitcoin google

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    Harmony's Cross-Chain Bridge Exploited for $100M

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    Bitcoin Struggles to Rebound as Miner Capitulation Continues 

    Bitcoin Struggles to Rebound as Miner Capitulation Continues 

    Bitcoin

    Bitcoin Could Restart Increase If The Bulls Clear This Resistance

    Ethereum

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    Bitcoin

    Bitcoin Trims Gains, Why 100 SMA Could Trigger Fresh Increase

    Ethereum

    Ethereum Tops Near $1,200, Why Dips Could Be Attractive

  • Learn About Crypto
    What Is a Decentralized Exchange (DEX)?

    What Is a Decentralized Exchange (DEX)?

    What Is Ethereum 2.0 (The Merge)?

    What Is Ethereum 2.0 (The Merge)?

    Breaking: ExxonMobil is Mining Bitcoin With Natural gas

    Iran Cuts Power Supply To Crypto Mines;

    What Is Crypto Lending

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    How to Survive a (Crypto) Bear Market

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    Top 6 Crypto Events for June 2022 – Coingape

    What Is A Bull Flag Pattern and How to Use It

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    A Beginner’s Guide To Reversal Candlestick Patterns

    A Beginner’s Guide To Reversal Candlestick Patterns

    Wash Trading: What Is It and How Does It Work?

    Wash Trading: What Is It and How Does It Work?

  • Regulation
    Ripple CEO Brad Garlinghouse Says SEC Contradicted Itself by Suing Over XRP and Then Allowing Coinbase IPO

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    Pro-BTC Commissioner Hester Peirce Blasts Regulators, Says SEC Agenda Will Trigger ‘Dangerous’ Market Conditions

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    ‘Brutal and unrelentingly hard:’ Singapore regulator’s clampdown on crypto

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    Hoskinson pitches software-enabled crypto self-regulation to Congress

    Hoskinson pitches software-enabled crypto self-regulation to Congress

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Quant Explains How Bitcoin NUPL Can Help Predict Bull Cycles

February 21, 2022
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A quant breaks down how the Bitcoin NUPL indicator may be able to predict the beginning of a new bull run based on past pattern.

How The Bitcoin NUPL Metric May Predict The Start Of Bull Run

As explained by an analyst in a CryptoQuant post, the various phases of the NUPL indicator may shed some light relating to the bull run status for BTC.

The net unrealized profit and loss (or NUPL in short) is a metric that’s defined as the difference between the market cap and the realized cap, divided by the market cap.

NUPL = (Market Cap – Realized Cap) ÷ Market Cap

In simpler terms, what this indicator tells us about is the degree of profit or loss Bitcoin investors as a whole currently observe.

When NUPL values are above zero, it means holders are, on average, in profit. On the other hand, the market as a whole is in a state of profit if the indicator’s value is more than zero.

Related Reading | Comparing Apple’s Growth With Bitcoin, Why This Expert Sets $700K As Long-Term Goal

Now, here is a chart that shows the trend in the BTC NUPL over the past ten years:

Bitcoin NUPL

The correlation between the BTC price and the indicator's values | Source: CryptoQuant

As you can see in the above graph, the quant has marked three different regions of importance for the Bitcoin NUPL metric.

It looks like whenever the metric has crossed above the red line, a BTC bull run has also begun in tandem. The green region, on the other hand, seems to be when the crypto is undervalued, and bottom formations take place.

Related Reading | Pantera Predicts Correlation Between Bitcoin And Traditional Markets Might Break This Spring

According to the analyst, the yellow region is a divider between bull and bear trends. Crossing below this bar has historically marked the beginning of a new bear market.

Currently, the Bitcoin NUPL is right above this region, and if the metric goes down and crosses below it, a new bear period may start. However, the quant has noted that this region can serve as support during the middle of a cycle as well, as it already did once recently.

BTC Price

Today, Bitcoin’s price has plunged down below the $38k mark continuing its recent downfall. At the time of writing, the price of the coin floats around $37.6k, down 10% in the last seven days. Over the past month, the crypto has lost 8% in value.

The below chart shows the trend in the price of BTC over the last five days.

Bitcoin Price Chart

BTC's price seems to have sunk down over the past few days | Source: BTCUSD on TradingView
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

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Tags: BitcoinBullCyclesexplainsNUPLpredictQuant
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