Glassnode Used Critical Data: Predicted How Much Longer Bitcoin’s Decline Could Last!

After the sharp drop in February, it has again smashed up Bitcoin ($BTC) to its $60,000 mark. The latest assessment comes from Glassnode, while a further decline is expected in the coming days.

The real profit/loss ratio (90-day moving average) of Bitcoin has been below 1, Glassnode said. This indicates that this may mean the decline could continue for another five to six months.

Glassnode (in an account X-related post) said that “[historically] drops in the Realized Profit/Losess Ratio below 1 have preceded at least six months of decline period.”

This means that Bitcoin could experience another six months of decline after its historical profit/loss ratio fell below 1.

On the other hand, a return above 1 generally indicates a decrease in selling pressure.

This was cited as an example of the 2022 and 2018 bear markets being used as examples of this situation. In the 2022 bear market, $BTC lost 25% of its value six months after its profit/loss ratio fell below 1. Conversely in 2018, Bitcoin fell more than half of its value in five months under similar conditions, i.e.

According to Glassnode, if history repeats itself, the $BTC price could continue its downtrend for five months or more.

*This is not investment advice.

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