Bitcoin (BTC / USD) This indicator has already marked us a good Bitcoin Buy point
Several days ago I am analyzing the offer of mined Bitcoin, today I bring you this indicator that has to do with that bitcoin offer
Puell Multiple indicator
Let's see
Indicator Overview
This metric looks at the supply side of Bitcoin's economy - bitcoin miners and their revenue.
It explores market cycles from a mining revenue perspective. Bitcoin miners are sometimes referred to as compulsory sellers due to their need to cover fixed costs of mining hardware in a market where price is extremely volatile. The revenue they generate can therefore influence price over time.
The Puell Multiple is calculated by dividing the daily issuance value of bitcoins (in USD) by the 365-day moving average of daily issuance value.
How It Can Be Used
There are periods of time where the value of bitcoins being mined and entering the ecosystem is too great or too little relative to historical norms.
Understanding these periods of time can be beneficial to the strategic Bitcoin investor.
The chart above highlights periods where the value of Bitcoin's issued on a daily basis has historically been extremely low (Puell Multiple entering green box), which produced outsized returns for Bitcoin investors who bought Bitcoin here. It also shows periods where the daily issuance value was extremely high (Puell Multiple entering red box), providing advantageous profit-taking for Bitcoin investors who sold here.
Created By: David Puell of Adaptive Capital
Date Created: March 2019
You can learn more about the Puell Multiple in this article written by 
Source: https://www.lookintobitcoin.com/charts/puell-multiple/
Analyzing the graph we see that it is made up of the supply of the average bitcoin for an MA of 365 days (red line).
Features
Only one variant reflects the bitcoin offer
It is a long-term indicator
It not only shows us good buying areas (green range) but also selling areas (red range)
Short term chart analysis
The indicator has marked a good buying point in the great setback generated by the world crisis
In recent weeks it has marked another good point of purchase (according to this indicator) that could be due to the bitcoin oversupply due to mining capitulation
In the last days we see that it has already turned upward. That could be because the miners are holding more bitcoin, they sell less than the ones they are generating from mining.
What do you think of the indicator? For other good Bitcoin buying points? or we are going up
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READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are.
Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment.
If you make exchanges or investments after reading this publication, it is entirely at your own risk. I am not responsible for any of your gains or losses. By reading this publication, you acknowledge and agree that you will never hold me liable for any of your profits or losses.
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