How to Predict the Next BTC Top Using This Secret Chart
This chart of BTC is quite interesting, as it shows the value of BTC in terms of the local currencies of the five biggest adopters of crypto, namely China, the United States, Japan, South Korea, and India. I calculated the average value of BTC across these five currencies and multiplied it by an arbitrary number, which is 148.68. This chart also takes out the inflation factor, so it reflects the real purchasing power of BTC.
As you can see, we formed the BTC bottom in November 2022, which was caused by the FTX crash. Then the market recovered and we saw a boom in BTC price. However, if we take out the inflation factor, we can see that we actually formed a top in April 2023, and then we started going down. This is because the local currencies of the five biggest adopters of crypto have been losing value against the US dollar, which is the standard unit for BTC price. Therefore, if I am from India, I am buying BTC not with USD but with INR, and I will have my entry and exit points based on the INR value of BTC, not the USD value. So it makes sense to look at this chart to get a better perspective of the BTC market.
Based on this chart, we can also see where the next top is going to be formed. I will update this chart as the market evolves.
As you can see, we formed the BTC bottom in November 2022, which was caused by the FTX crash. Then the market recovered and we saw a boom in BTC price. However, if we take out the inflation factor, we can see that we actually formed a top in April 2023, and then we started going down. This is because the local currencies of the five biggest adopters of crypto have been losing value against the US dollar, which is the standard unit for BTC price. Therefore, if I am from India, I am buying BTC not with USD but with INR, and I will have my entry and exit points based on the INR value of BTC, not the USD value. So it makes sense to look at this chart to get a better perspective of the BTC market.
Based on this chart, we can also see where the next top is going to be formed. I will update this chart as the market evolves.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.