The Bitcoin Puell Multiple is a key indicator for evaluating buying and selling opportunities based on the profitability of Bitcoin miners. The Idea The Bitcoin Puell Multiple is a ratio that measures the daily profitability of Bitcoin miners in relation to the historical annual average of this profitability. It is calculated by dividing the amount of newly...
This is the first iteration of an effort to make multiple well-known analytical tools collaborate to help give an objective consensus to the current market conditions. This indicator ONLY works on a 1 Day Bitcoin Chart! It contains the following indicators: Puell Multiple (ours: ) Hash ribbons (by capriole_charles: ) Weekly moving average ...
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...
Reverse formulated what the closed source version is and releasing open source publicly to give back to the community. If you have any questions feel free to join our Discord!
🔗Blockchain Fundamentals - PUELL MULTIPLE! by Cryptorhythms Intro The PUELL MULTIPLE! is a way to gauge market cycles from a mining profitability / compulsory sellers' perspective. It takes total miner revenue and adjusts by its yearly moving average. Calculation = mining revenue / 365-day simple moving average of mining revenue. (The indicator is written...