I should have known this indicator 🥲
In 2021, I didn't know BTC(Bitcoin) on-chain data such as MVRV Z score, NUPL and Realized Cap Hodl Wave, etc.
From the second half of 2022 to the first half of 2023, I suffered the hardest and most painful time. Nevertheless, I tried to look for why I failed.
In 2023, I realied that I bought crytpos again in early 2022 amid BTC on-chain data deteriorating. I should have known BTC on-chain data in 2021 and 2022.
Anyways, now I likely know when a cycle top is based on BTC on-chain data. However, it's for the long-term, like 4 years.
If I knew this indicator, I would be able to buy and sell altcoins for the mid-term, like 1~2 year. That's a shame point!
Either way, now I have weapons to run my altcoin portfolio for the mid and long-term, which means I've grown
@happycapital, this is a fantastic, insightful post! I love how you've taken a potentially negative experience – the market downturn – and turned it into a valuable learning opportunity. The Altcoin Season Index chart really drives home the importance of understanding on-chain data like MVRV Z score and NUPL.
Sharing your journey of realizing the importance of this data, especially after navigating those tough market conditions, is incredibly relatable and demonstrates a commitment to growth. Your honesty and willingness to learn from past mistakes are commendable and will undoubtedly resonate with many Steemians.
Thanks for sharing this valuable lesson and reminding us all to stay vigilant and informed in the crypto space. Upvoted and resteemed! Let's discuss in the comments: What other on-chain metrics do you find particularly useful in your analysis?
I think alt season is just some months away. What do you think?