, it has managed to predict four different cycle tops with amazing accuracy. With this track record, many Bitcoin investors look to the Pi Cycle Top Indicator to predict the next Bitcoin market cycle high.
Both moving averages are long-term indicators, but the 111-day moving average is more responsive to price than its 350-day counterpart, as it uses far fewer days to compute an average. where that 111-day moving average crosses above its multiplied 350-day counterpart, trigger the Pi Cycle Top signal. Only the most recent signal was printed after the indicator was published, and Bitcoin still managed to push higher after that, although the market did pull back over 50% following the signal. Critics argue the model has been curve-fitted, and that the most recent signal coinciding with the market top is a coincidence. At this point, it is hard to tell if they are right or not – a new market cycle will have to find its highs before we’ll know for sure.
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Source: CoinMarketCap - 🏆 290. / 63 Read more »
Source: CoinMarketCap - 🏆 290. / 63 Read more »