Santiment, an analytics platform, has discovered an important indicator that may indicate an imminent bull run. Promising insights have been obtained from the platform’s research of the Mean Dollar Invested Age, a statistic that tracks the average age of investments in a wallet.
In the analysis, Santiment pointed out that historical bull cycles usually correspond with a lowering Mean Dollar Invested Age for Bitcoin. It’s interesting to note that from late October 2023 to the end of March 2024, similar scenario has occurred again, with Bitcoin’s price rising by an astounding 133% over that time.
Notwithstanding the impending halving of Bitcoin, Santiment’s most recent observations indicate that the Mean Dollar Invested Age has stagnated. The platform thinks that in order to further push down the indicator and ensure a continuous bull run, major stakeholders need to put coins back into circulation.
A declining Mean Dollar Invested Age, according to the platform, indicates that investments are returning to normal circulation and point to heightened network activity. On the other hand, a rising line denotes lower activity and stagnant investments.
Investors are keeping a close eye on this development since the Mean Dollar Invested Age may offer insightful information about the future trajectory of the cryptocurrencycurrency industry.
Read also: Osmosis, dYdX, and Synthetix Stand Out in Santiment’s DeFi Analysis
