{"id":18948,"date":"2023-05-30T17:34:18","date_gmt":"2023-05-30T17:34:18","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoins-next-rally-may-be-imminent-on-chain-analyst-says\/"},"modified":"2023-05-30T17:34:20","modified_gmt":"2023-05-30T17:34:20","slug":"bitcoins-next-rally-may-be-imminent-on-chain-analyst-says","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoins-next-rally-may-be-imminent-on-chain-analyst-says\/","title":{"rendered":"Bitcoin\u2019s next rally may be imminent, on-chain analyst says"},"content":{"rendered":"<p><\/p>\n<div data-v-2f4c2c70=\"\">\n<p>After a long period of unusually low volatility, Bitcoin\u2019s (BTC) next major price move is likely imminent and could drive BTC to $32,000, according to James Check, lead on-chain analyst at Glassnode. That price level is where Bitcoin\u2019s \u201ctrue cost basis is sitting,\u201d Check explained in an exclusive interview with Cointelegraph.\u00a0<\/p>\n<p>To calculate Bitcoin\u2019s average cost basis \u2014 the average price at which BTC was bought \u2014 Check and his team removed coins that are lost forever\u00a0from the calculation and focused on active Bitcoin investors.\u00a0<\/p>\n<p>\u201cIt\u2019s where the mean reversion level would be, so a rally to that level, to be honest, wouldn\u2019t surprise me,\u201d he said. <\/p>\n<p>Despite this bullish scenario, Check also pointed out that a large number of investors are likely tired of the bear market and waiting for Bitcoin to reach that level before selling, thus putting pressure on the price.\u00a0<\/p>\n<p>\u201cThat&#8217;s an area where you start getting more resistance,\u201d he stated.<\/p>\n<p>To find out more about the chances of an upcoming Bitcoin rally, check the full interview on our YouTube channel \u2014 and don\u2019t forget to subscribe! <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>After a long period of unusually low volatility, Bitcoin\u2019s (BTC) next major price move is likely imminent and could drive BTC to $32,000, according to James Check, lead on-chain analyst at Glassnode. That price level is where Bitcoin\u2019s \u201ctrue cost basis is sitting,\u201d Check explained in an exclusive interview with Cointelegraph.\u00a0 To calculate Bitcoin\u2019s average [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-18948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin\u2019s next rally may be imminent, on-chain analyst says | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/bitcoins-next-rally-may-be-imminent-on-chain-analyst-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin\u2019s next rally may be imminent, on-chain analyst says | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"After a long period of unusually low volatility, Bitcoin\u2019s (BTC) next major price move is likely imminent and could drive BTC to $32,000, according to James Check, lead on-chain analyst at Glassnode. That price level is where Bitcoin\u2019s \u201ctrue cost basis is sitting,\u201d Check explained in an exclusive interview with Cointelegraph.\u00a0 To calculate Bitcoin\u2019s average [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nftandcrypto-news.com\/crypto\/bitcoins-next-rally-may-be-imminent-on-chain-analyst-says\/\" \/>\n<meta property=\"og:site_name\" content=\"NFT &amp; Crypto News\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-30T17:34:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-30T17:34:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/05\/1685468058_25b4cc1e-f2eb-4b2a-b8b9-90f1aee8e048.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"799\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/bitcoins-next-rally-may-be-imminent-on-chain-analyst-says\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/bitcoins-next-rally-may-be-imminent-on-chain-analyst-says\/\"},\"author\":{\"name\":\"Staff\",\"@id\":\"https:\/\/nftandcrypto-news.com\/#\/schema\/person\/352194e8b0cb9ae3ad5480e201b5f792\"},\"headline\":\"Bitcoin\u2019s next rally may be imminent, on-chain analyst says\",\"datePublished\":\"2023-05-30T17:34:18+00:00\",\"dateModified\":\"2023-05-30T17:34:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/bitcoins-next-rally-may-be-imminent-on-chain-analyst-says\/\"},\"wordCount\":195,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/bitcoins-next-rally-may-be-imminent-on-chain-analyst-says\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/05\/1685468058_25b4cc1e-f2eb-4b2a-b8b9-90f1aee8e048.jpg\",\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/nftandcrypto-news.com\/crypto\/bitcoins-next-rally-may-be-imminent-on-chain-analyst-says\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/bitcoins-next-rally-may-be-imminent-on-chain-analyst-says\/\",\"url\":\"https:\/\/nftandcrypto-news.com\/crypto\/bitcoins-next-rally-may-be-imminent-on-chain-analyst-says\/\",\"name\":\"Bitcoin\u2019s next rally may be imminent, on-chain analyst says | NFT &amp; 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