{"id":69294,"date":"2022-10-31T07:00:00","date_gmt":"2022-10-31T05:00:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69294"},"modified":"2025-09-07T19:08:31","modified_gmt":"2025-09-07T16:08:31","slug":"when-will-bitcoin-rally-begin-an-analysis-of-indicator-data-and-expert-opinions","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/when-will-bitcoin-rally-begin-an-analysis-of-indicator-data-and-expert-opinions\/","title":{"rendered":"When Will Bitcoin Rally Begin? An Analysis of Indicator Data and Expert Opinions"},"content":{"rendered":"<p>On October 25, Bitcoin\u2019s price suddenly broke out of the grip of a protracted flat, <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-breaches-20000-after-a-prolonged-lull-in-volatility\">surpassing the $20,000 level<\/a>. Many market participants likely asked themselves: is this a genuine reversal, or a coming <a href=\"https:\/\/u1f987.com\/en\/news\/trader-warns-of-a-possible-false-breakout-for-bitcoin\">\u201cfake-out\u201d<\/a>?<\/p>\n<p>ForkLog analysed the most relevant on-chain indicators, gathered interesting opinions and determined when to expect the recovery in Bitcoin\u2019s price.<\/p>\n<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Policy <span data-descr=\"Federal Reserve System\" class=\"old_tooltip\">Fed<\/span> policy continues to exert pressure on markets, including the crypto market. However, correlation is gradually weakening, so a break in the statistical link between Bitcoin and traditional risk assets cannot be ruled out.<\/li>\n<li>Many on-chain indicators signal that the bear phase has bottomed. Some of them have been in the oversold zone for several months.<\/li>\n<li>Among optimistically inclined experts, the forecast for an active market recovery before the end of 2022 prevails.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Fundamental factors of the coming rally<\/h2>\n<h3 class=\"wp-block-heading\">Relation to traditional markets<\/h3>\n<p>There used to be a view of Bitcoin as a safe-haven asset. Indeed, up to January 2020 and through a relatively buoyant 2021, Bitcoin often showed a negative correlation with the \u201cbarometer of the US economy\u201d \u2014 the S&#038;P 500.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"239\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-btc-pearson-correlation-30d-1024x239.png\" alt=\"When will Bitcoin rally begin? Analyzing indicator data and expert opinions\" class=\"wp-image-189233\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-btc-pearson-correlation-30d-1024x239.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/1-btc-pearson-correlation-30d-300x70.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/1-btc-pearson-correlation-30d-768x179.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/1-btc-pearson-correlation-30d-1536x358.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/1-btc-pearson-correlation-30d.png 1710w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Correlation of Bitcoin with the S&#038;P 500. Data: <a href=\"https:\/\/www.theblock.co\/data\/crypto-markets\/prices\/btc-pearson-correlation-30d\">The Block<\/a>, CryptoCompare.<\/figcaption><\/figure>\n<p>At the start of 2022, the Federal Reserve began a rapid cycle of rate hikes. The policy of \u201cexpensive money\u201d aimed at reducing inflation placed substantial pressure on global markets.<\/p>\n<p>Bitcoin was not an exception \u2014 since the start of the year its price had fallen by <a href=\"https:\/\/messari.io\/screener\/all-assets-D86E0735\">56%<\/a>, and from its historical high around $69,000 by about 70%. S&#038;P 500 quotes also declined by more than 20% in 2022.<\/p>\n<p>Against the backdrop of a tighter US monetary policy, investors began viewing digital gold more as a risky asset, alongside equities and commodities. Many sought to \u201ccash out,\u201d while some saw a safe haven in high\u2011quality bonds and in precious metals.<\/p>\n<p>In the third quarter the situation changed somewhat: Bitcoin fell by only 1%, showing the strongest performance relative to fiat currencies (excluding the US dollar), major stock indices, gold and oil.<\/p>\n<p>According to <a href=\"https:\/\/u1f987.com\/en\/news\/study-bitcoin-lagged-only-the-us-dollar-in-performance-in-q3\">CoinGecko analysts<\/a>, the correlation of the crypto market with the S&#038;P 500 has slightly decreased\u2014from 0.92 to 0.85. LookIntoBitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/analysts-propose-accumulating-bitcoin-amid-signs-of-bottom-formation\">suggested<\/a> that Bitcoin could break away from traditional risky assets. This could happen as investors realise that most threats come from governments and fiat currencies.<\/p>\n<p>Another positive note: Tesla, in its Q3 earnings report, <a href=\"https:\/\/u1f987.com\/en\/news\/tesla-values-bitcoin-on-its-balance-sheet-at-218-million\">reported<\/a> that it continues to hold Bitcoin on its balance sheet, worth $218 million.<\/p>\n<p>Eight Global founder Micha\u00ebl van de Poppe sees this as a powerful signal.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\ud83d\udd25 \u2014 BREAKING: <a href=\"https:\/\/twitter.com\/search?q=%24TSLA&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$TSLA<\/a> didn\u2019t sell their <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> in Q3 2022 and still hold 11,000 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <\/p>\n<p>You should hold too.<\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1582838612043124736?ref_src=twsrc%5Etfw\">October 19, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In his view, if the largest EV maker is not rushing to sell digital gold, other market participants should likewise stay calm.<\/p>\n<h3 class=\"wp-block-heading\">On\u2011chain analysis<\/h3>\n<p>Many indicators <a href=\"https:\/\/u1f987.com\/en\/news\/several-indicators-point-to-bitcoins-bear-market-bottom\">signal<\/a> that the bear market has bottomed.<\/p>\n<p>As early as July, <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-puell-multiple-and-how-is-it-used\">Puell multiple<\/a> fell to levels seen in mid\u2011December 2018, when Bitcoin traded just above $7,000.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"827\" height=\"594\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-onchain-metrics1.png\" alt=\"On-chain metrics\" class=\"wp-image-189234\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-onchain-metrics1.png 827w, https:\/\/u1f987.com\/wp-content\/uploads\/2-onchain-metrics1-300x215.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/2-onchain-metrics1-768x552.png 768w\" sizes=\"auto, (max-width: 827px) 100vw, 827px\" \/><figcaption>Data: <a href=\"https:\/\/arcane.no\/research\/2-year-low-daily-volatility\">Arcane Research<\/a>.<\/figcaption><\/figure>\n<p>Similarly, the long-term RHODL Ratio indicator shows current values that align with the start of 2019 \u2014 the bear bottom of the previous market cycle.<\/p>\n<p>The Reserve Risk indicator has reached the lowest readings in the entire history of observations. This implies that long-term investors have little incentive to sell digital gold.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abLow Reserve Risk values indicate that coins are accumulating (hodlers hodl) despite falling prices\u00bb, explained Arcane Research.<\/p>\n<\/blockquote>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/what-is-on-chain-analysis-and-how-to-use-it\">MVRV<\/a> indicates that Bitcoin\u2019s realized capitalization is higher than its market capitalization. Earlier, similarly low readings of the indicator coincided with the extremes of previous bear phases.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"826\" height=\"537\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/3-onchain-metrics2.png\" alt=\"On-chain metrics\" class=\"wp-image-189235\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/3-onchain-metrics2.png 826w, https:\/\/u1f987.com\/wp-content\/uploads\/3-onchain-metrics2-300x195.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/3-onchain-metrics2-768x499.png 768w\" sizes=\"auto, (max-width: 826px) 100vw, 826px\" \/><figcaption>Data: <a href=\"https:\/\/arcane.no\/research\/2-year-low-daily-volatility\">Arcane Research<\/a>.<\/figcaption><\/figure>\n<p>Researchers argue that the current indicator levels \u201cshow a very attractive entry point for investors ready for a new wave of Bitcoin strength.\u201d<\/p>\n<p>Another important on\u2011chain factor is the total amount of Bitcoin and digital gold held on wallets of long\u2011term crypto investors that has not moved in the last six months has reached a five\u2011year high. <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-held-by-hodlers-reaches-five-year-high\">reached a five\u2011year high<\/a>.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/4-BTC-Amount-of-HODLes-or-Lost-Coins-1024x512.jpg\" alt=\"On-chain indicators\" class=\"wp-image-189236\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/4-BTC-Amount-of-HODLes-or-Lost-Coins-1024x512.jpg 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/4-BTC-Amount-of-HODLes-or-Lost-Coins-300x150.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/4-BTC-Amount-of-HODLes-or-Lost-Coins-768x384.jpg 768w, https:\/\/u1f987.com\/wp-content\/uploads\/4-BTC-Amount-of-HODLes-or-Lost-Coins-1536x768.jpg 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/4-BTC-Amount-of-HODLes-or-Lost-Coins-2048x1024.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: <a href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1581861465207672833\/photo\/1\">Glassnode<\/a>.<\/figcaption><\/figure>\n<p>The rise in the metric implies a reduction in the active circulating supply of Bitcoin. This bodes well for the price if demand remains growing or steady.<\/p>\n<p>Against the backdrop of the metric above, Bitcoin balances on centralized exchanges have been shrinking. A persistent downtrend has been evident since June 2021, pointing to diminished bearish pressure on the asset\u2019s price.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"415\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/5-Exchange-Supply-1024x415.png\" alt=\"On-chain indicators\" class=\"wp-image-189237\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/5-Exchange-Supply-1024x415.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/5-Exchange-Supply-300x122.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/5-Exchange-Supply-768x311.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/5-Exchange-Supply-1536x623.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/5-Exchange-Supply.png 1816w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: <a href=\"https:\/\/charts.coinmetrics.io\/network-data\/\">Coin Metrics<\/a>.<\/figcaption><\/figure>\n<p>In addition, the inactive supply that has not moved for the last six months is at a historical low (18.12%).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> supply that was moved in the last 6-months is approaching all-time-lows, currently at 18.12% of circulating supply (3.485M <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>).<\/p>\n<p>Historically, very low volumes of mobile supply typically occur after prolonged bear markets.<\/p>\n<p>Dashboard: <a href=\"https:\/\/t.co\/KYdlMcwDv6\">https:\/\/t.co\/KYdlMcwDv6<\/a> <a href=\"https:\/\/t.co\/rXIu2sukU9\">pic.twitter.com\/rXIu2sukU9<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1582241769697456128?ref_src=twsrc%5Etfw\">October 18, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abHistorically, very low volumes of mobile supply typically occur after prolonged bear markets\u00bb, explained Glassnode.<\/p>\n<\/blockquote>\n<p>One might think nothing stands in the way of a rally \u2014 Bitcoin is deeply oversold, active supply is shrinking, hodlers remain true to their strategy. Yet a serious obstacle remains \u2014 market sentiment.<\/p>\n<p>The Crypto Fear and Greed index has signalled anxious sentiment for over a month.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"590\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/6-Fear-and-Greed-Index.png\" alt=\"When will Bitcoin rally begin? Analyzing indicator data and expert opinions\" class=\"wp-image-189238\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/6-Fear-and-Greed-Index.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/6-Fear-and-Greed-Index-300x128.png 300w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">Alternative.me<\/a> as of 30.10.2022.<\/figcaption><\/figure>\n<p>Analysts at QryptoQuant noted the continuation of the bear trend.<\/p>\n<p><script async=\"\" src=\"https:\/\/telegram.org\/js\/telegram-widget.js?21\" data-telegram-post=\"cryptoquant_official\/1376\" data-width=\"100%\"><\/script><\/p>\n<p>In their assessment, Bitcoin buyers since December 2020 are now in the red. Consequently, the long\u2011term <a href=\"https:\/\/u1f987.com\/en\/news\/when-will-bitcoins-price-resume-its-rise-a-guide-to-on-chain-indicators\">SOPR<\/a> is unlikely to resume an uptrend in the near term.<\/p>\n<p>On the other hand, the current situation presents a potentially favorable period for buying digital gold for the long term. For example, using the dollar\u2011cost averaging strategy (<a href=\"https:\/\/u1f987.com\/en\/news\/what-is-dollar-cost-averaging\">DCA<\/a>).<\/p>\n<p>According to <a href=\"https:\/\/u1f987.com\/en\/news\/analysts-propose-accumulating-bitcoin-amid-signs-of-bottom-formation\">LookIntoBitcoin analysts<\/a>, the Net Unrealized Profit\/Loss (<a href=\"https:\/\/u1f987.com\/en\/news\/risk-reward-in-crypto-trading-why-it-matters\">NUPL<\/a>) sits in negative territory for the last four months. Based on prior capitulation cycles, the time has come to accumulate Bitcoin.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"692\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/7-NUPL-1024x692.png\" alt=\"When will Bitcoin rally begin? Analyzing indicator data and expert opinions\" class=\"wp-image-189240\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/7-NUPL-1024x692.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/7-NUPL-300x203.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/7-NUPL-768x519.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/7-NUPL-1536x1037.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/7-NUPL.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: <a href=\"https:\/\/www.lookintobitcoin.com\/charts\/relative-unrealized-profit--loss\/\" title=\"LookIntoBitcoin\">LookIntoBitcoin<\/a>.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abBuying Bitcoin near these levels, when NUPL is in capitulation, historically demonstrates an excellent <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-bitcoin-halving\">risk\u2011reward<\/a> for a long\u2011term oriented investment strategy\u00bb, said the experts.<\/p>\n<\/blockquote>\n<p>NUPL has been below zero for over 100 days. In previous bear phases in 2014\u20132015 and 2018\u20132019 this period was 301 and 138 days respectively. The pandemic shock in March 2020 (9 days) can be considered an exception.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"590\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/NUPL_bearish_phases-1024x590.png\" alt=\"When will Bitcoin rally begin? Analyzing indicator data and expert opinions\" class=\"wp-image-189239\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/NUPL_bearish_phases-1024x590.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/NUPL_bearish_phases-300x173.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/NUPL_bearish_phases-768x443.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/NUPL_bearish_phases-1536x885.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/NUPL_bearish_phases.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: <a href=\"https:\/\/insights.glassnode.com\/the-week-onchain-week-41-2022\/\">Glassnode<\/a>.<\/figcaption><\/figure>\n<p>Specialists at LookIntoBitcoin also reviewed the duration of bear phases after <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-bitcoin-halving\">halvings<\/a>. In 2013 this period was 779 days, in 2017 \u2014 891. Under the current downtrend it has surpassed 900 days.<\/p>\n<p>In Glassnode they are <a href=\"https:\/\/u1f987.com\/en\/news\/analysts-point-to-signs-of-bitcoin-price-bottom-forming\">confident<\/a> that it may take several more months to end the current phase.<\/p>\n<p>Experts drew attention to the largest whale outflow from exchanges since June 2022 (15,700 BTC). The behavior of major market players is typically indicative of price trend directions, they emphasized.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"589\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/8-Whale-deposits-and-Withdrawal-Volumes-1024x589.png\" alt=\"On-chain indicators\" class=\"wp-image-189241\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/8-Whale-deposits-and-Withdrawal-Volumes-1024x589.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/8-Whale-deposits-and-Withdrawal-Volumes-300x173.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/8-Whale-deposits-and-Withdrawal-Volumes-768x442.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/8-Whale-deposits-and-Withdrawal-Volumes-1536x884.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/8-Whale-deposits-and-Withdrawal-Volumes.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: <a href=\"https:\/\/insights.glassnode.com\/the-week-onchain-week-41-2022\/\">Glassnode<\/a>.<\/figcaption><\/figure>\n<p>By the metric of profit-bearing supply, the market has approached a cyclical bottom. After correcting for long\u2011inactive 7+ year supply, the share stood at 39%. In 2019 and 2022, reversals occurred at 32% and 37% respectively.<\/p>\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/9-Adjusted-Supply-in-Profit-1.png\" alt=\"When will Bitcoin rally begin? Analyzing indicator data and expert opinions\" class=\"wp-image-189243\" width=\"840\" height=\"483\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/9-Adjusted-Supply-in-Profit-1.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/9-Adjusted-Supply-in-Profit-1-300x173.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/9-Adjusted-Supply-in-Profit-1-768x442.png 768w\" sizes=\"auto, (max-width: 840px) 100vw, 840px\" \/><figcaption>Data: <a href=\"https:\/\/insights.glassnode.com\/the-week-onchain-week-41-2022\/\">Glassnode<\/a>.<\/figcaption><\/figure>\n<h3 class=\"wp-block-heading\">Mining<\/h3>\n<p>Throughout the third quarter the market remained under pressure on miners\u2019 financial stability, <a href=\"https:\/\/u1f987.com\/en\/news\/report-bitcoin-miners-halt-liquidation-of-cryptocurrency-reserves\">note<\/a> Hashrate Index analysts. Nevertheless, the pace of bitcoin production being realized slowed.<\/p>\n<p>In June, large players liquidated a total of 23% of Bitcoin reserves, realising 14,600 BTC. In July, firms sold 5,767.9 BTC with total mined 3,478 BTC.<\/p>\n<p>In August and September 2022, public mining companies <a href=\"https:\/\/u1f987.com\/en\/news\/report-bitcoin-miners-halt-liquidation-of-cryptocurrency-reserves\">sold fewer bitcoins than they mined<\/a>. This was the first such instance since May.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"888\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/10-BTC-Sold-1024x888.png\" alt=\"On-chain indicators\" class=\"wp-image-189244\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/10-BTC-Sold-1024x888.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/10-BTC-Sold-300x260.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/10-BTC-Sold-768x666.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/10-BTC-Sold-1536x1332.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/10-BTC-Sold.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: Hashrate Index.<\/figcaption><\/figure>\n<p>In the United States, where public miners conduct the largest share of operations, the cost of producing 1 BTC compared with a year ago has more than doubled in some states. The reasons are higher hash rate and rising electricity tariffs.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/11-Hashrate-1024x576.png\" alt=\"On-chain indicators\" class=\"wp-image-189245\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/11-Hashrate-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/11-Hashrate-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/11-Hashrate-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/11-Hashrate-1536x864.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/11-Hashrate.png 1800w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Hashrate trend for Bitcoin against falling price. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;clid=00Q1I00000LtQY8UAN&#038;m=mining.HashRateMean&#038;mAvg=7&#038;mScl=lin&#038;pScl=lin&#038;resolution=24h&#038;s=1634986237&#038;u=1666522237&#038;utm_campaign=&#038;utm_medium=firstmover&#038;utm_source=newsletters&#038;zoom=365\">Glassnode<\/a>.<\/figcaption><\/figure>\n<p>The consequence is a rise in mining difficulty. This, in turn, depresses mining profitability. A stagnating market only exacerbates the situation.<\/p>\n<p>Many Bitcoin miners operate on the edge of break-even even with equipment like the Antminer S19j Pro, Hashrate Index analysts stressed.<\/p>\n<p>Glassnode experts noted that the <span data-descr=\"revenue earned by miners per unit of hash power\" class=\"old_tooltip\">hash price<\/span> has reached a record low of $66,500 per Exahash.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Hash Price has reached an all-time-low of $66,500 per Exahash.<\/p>\n<p>This means that <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> miners are earning the smallest reward relative to hashpower applied in history, and likely puts the industry under extreme income stress.<\/p>\n<p>Live Chart: <a href=\"https:\/\/t.co\/RQzSsh9FnF\">https:\/\/t.co\/RQzSsh9FnF<\/a> <a href=\"https:\/\/t.co\/ExfpR5sOOq\">pic.twitter.com\/ExfpR5sOOq<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1584427907157757952?ref_src=twsrc%5Etfw\">October 24, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Thus, further declines in Bitcoin price in the face of rising hashrate and difficulty could trigger miner capitulation. Capitulation generally precedes consolidation and a trend reversal.<\/p>\n<h3 class=\"wp-block-heading\">Volatility<\/h3>\n<p><a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;clid=00Q1I00000LtQY8UAN&#038;m=market.RealizedVolatility1Week&#038;mAvg=7&#038;mScl=lin&#038;pScl=lin&#038;resolution=24h&#038;s=1577594596&#038;u=1666569600&#038;utm_campaign=&#038;utm_medium=firstmover&#038;utm_source=newsletters&#038;zoom=\">Bitcoin\u2019s Realised Volatility over a 1-week window<\/a> has fallen to levels close to historic lows. Such episodes are typically followed by substantial price moves.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"590\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/12-Realised-Volatility-1024x590.png\" alt=\"Volatility\" class=\"wp-image-189247\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/12-Realised-Volatility-1024x590.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/12-Realised-Volatility-300x173.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/12-Realised-Volatility-768x443.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/12-Realised-Volatility-1536x885.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/12-Realised-Volatility.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Realised Bitcoin volatility fell to 28%. Data: <a href=\"https:\/\/insights.glassnode.com\/the-week-onchain-week-42-2022\/?&#038;utm_source=gn_twitter&#038;utm_medium=tweet_woc&#038;utm_campaign=woc_42_2022\">Glassnode<\/a>.<\/figcaption><\/figure>\n<p>At the end of October, the 30\u2011day volatility metric for Bitcoin approached a six\u2011year low, trading below Nasdaq and S&amp;P 500 equivalents. Arcane Research warned that market participants should prepare for a powerful move.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Bitcoin\u2019s 30-day volatility is currently lower than that of the Nasdaq and S&amp;P 500 while nearing a 6-year-low, sitting slightly higher than low levels recorded in 2018, 2019, and 2020. <a href=\"https:\/\/t.co\/5IAeud7ceD\">pic.twitter.com\/5IAeud7ceD<\/a><\/p>\n<p>\u2014 Arcane Research (@ArcaneResearch) <a href=\"https:\/\/twitter.com\/ArcaneResearch\/status\/1584916780652396544?ref_src=twsrc%5Etfw\">October 25, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analysts note that similar ranges of price volatility were seen in 2018, 2019 and 2020. Each period of unusually low volatility was followed by a strong price rebound for Bitcoin. In addition, analysts at Glassnode highlighted a notable divergence between price and the indicator <a href=\"https:\/\/u1f987.com\/en\/news\/when-will-bitcoins-price-resume-its-rise-a-guide-to-on-chain-indicators\">aSOPR<\/a>. Amid a prevailing downtrend in prices, the amount of losses realized has been shrinking, suggesting sellers are losing steam.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"590\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/13-aSOPR-1024x590.png\" alt=\"On-chain metrics\" class=\"wp-image-189250\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/13-aSOPR-1024x590.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/13-aSOPR-300x173.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/13-aSOPR-768x443.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/13-aSOPR-1536x885.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/13-aSOPR.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: <a href=\"https:\/\/insights.glassnode.com\/the-week-onchain-week-42-2022\/?&#038;utm_source=gn_twitter&#038;utm_medium=tweet_woc&#038;utm_campaign=woc_42_2022\">Glassnode<\/a>.<\/figcaption><\/figure>\n<p>As <a href=\"https:\/\/u1f987.com\/en\/news\/when-will-bitcoins-price-resume-its-rise-a-guide-to-on-chain-indicators\">aSOPR<\/a> moves toward the breakeven level of 1.0 from below, the chances of a volatility spike rise\u2014either in the form of a breakout or as another pullback from that threshold.<\/p>\n<h2 class=\"wp-block-heading\">Positive forecasts<\/h2>\n<p>Galaxy Digital founder Mike Novogratz <a href=\"https:\/\/u1f987.com\/en\/news\/mike-novogratz-forecasts-bear-market-duration-in-crypto-markets\">expressed<\/a> the view that the current bear phase of the cryptocurrency market could last another six months.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abYou know, a bear case means we have two to six months left of pain. In a bull market the market starts to break. And we\u2019ll see many breakages. Not necessarily in cryptocurrencies, but in the wider world\u00bb, said he.<\/p>\n<\/blockquote>\n<p>According to him, the selling impulse in the digital-asset market is largely exhausted.<\/p>\n<p>He linked bear pressure to the Federal Reserve\u2019s aggressive rate hikes. Meanwhile, the policy affected digital gold more than many other assets.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abI think when a pause in rate hikes comes, we\u2019ll see Bitcoin rise. Like other cryptocurrencies. Will we reach a pause? At some point, yes\u00bb, said Novogratz.<\/p>\n<\/blockquote>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/mike-novogratz-bitcoin-set-to-rise-as-fed-policy-eases\">According to him<\/a>, the Fed\u2019s rate-hiking campaign has deprived Bitcoin of its status as a \u201cstrong hedge against inflation.\u201d The Fed\u2019s policy has affected Bitcoin more through its correlation with traditional financial assets than through inflation itself.<\/p>\n<p>Bloomberg Intelligence senior commodities strategist Mike McGlone <a href=\"https:\/\/u1f987.com\/en\/news\/opinion-bitcoin-to-outpace-other-assets-in-growth-by-year-end\">presented<\/a> an unabashedly \u201cbullish\u201d forecast: by the end of 2022 digital gold will outperform its rivals.<\/p>\n<p>The expert described rate hikes by central banks as a \u201cstrong tailwind\u201d for Bitcoin and Ethereum.<\/p>\n<p>MicroStrategy founder Michael Saylor <a href=\"https:\/\/u1f987.com\/en\/news\/michael-saylor-sees-bitcoin-hitting-a-new-all-time-high-within-four-years\">forecasted<\/a> Bitcoin\u2019s price surpassing the all-time high of $69,000 within the next four years.<\/p>\n<p>He is convinced Bitcoin has bottomed in the current bear phase and expects to reach $500,000 in the next decade.<\/p>\n<p>Saylor also stated that the leading cryptocurrency has strong potential to replace gold as a store of value given governments\u2019 inability to control it.<\/p>\n<p>An equally bold forecast <a href=\"https:\/\/u1f987.com\/en\/news\/tone-vays-forecasts-bitcoin-to-reach-100000-in-2023\">was presented<\/a> by famed trader Tone Vays, who said Bitcoin would hit $100,000 next year ahead of the halving.<\/p>\n<p>However, the expert warned of a possible slide in digital gold\u2019s price to $14,000 before the bull run.<\/p>\n<p>According to Vays, growth could be driven by capital flows from Europe to the US and the \u201cfear of missing out\u201d syndrome.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abThey missed their chance to catch the 2018 bottom. This is another opportunity. If Bitcoin ever falls below $10,000, investors will seize it immediately\u00bb, explained the trader.<\/p>\n<\/blockquote>\n<p>He also noted Bitcoin\u2019s decentralisation and censorship resistance. According to Vays, these characteristics will enable widespread adoption of the asset.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abWe\u2019re seeing governments, central banks and conventional banks freezing accounts. This year alone we\u2019ve seen the West and the US confiscate funds tied to Russian passports\u00bb, the trader said.<\/p>\n<\/blockquote>\n<p>ARK Invest chief Kathie Wood recently reminded of her expectations for the cryptocurrency\u2019s market cap. <br \/>She forecast a rise to $4.5 trillion when Bitcoin traded around $250. It was then that Wood asked renowned economist Arthur Laffer to study the Bitcoin white paper.<\/p>\n<p>The ARK Invest CEO was interested in Bitcoin\u2019s prospects as a unit of account, a store of value and a medium of exchange. Laffer spoke positively about the cryptocurrency.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abI have searched for this ever since we abandoned the gold standard. Bitcoin is a rules-based monetary system\u00bb<\/p>\n<\/blockquote>\n<p>Laffer also compared the prospects for digital gold\u2019s capitalization with the size of the US monetary base.<\/p>\n<p>As of 30\/10\/2022 Bitcoin\u2019s market capitalization stood at $398.5 billion, according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\">CoinGecko<\/a>. The historical peak above $1.2 trillion was recorded in November 2021, when Bitcoin\u2019s price neared $70,000.<\/p>\n<p>Against the backdrop of a market revival on 25 October, Micha\u00ebl van de Poppe <a href=\"https:\/\/u1f987.com\/en\/news\/analyst-predicts-bitcoin-to-reach-30000-in-coming-weeks\">forecasted<\/a> Bitcoin\u2019s price to reach $30,000 in the coming weeks.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abIn two to three weeks Bitcoin will make a meaningful breakout. My bet is higher. Probably $30,000\u00bb, wrote the analyst.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Negative forecasts<\/h2>\n<p>CNBC\u2019s Mad Money host Jim Cramer <a href=\"https:\/\/u1f987.com\/en\/news\/jim-cramer-the-fed-signals-investors-to-abandon-cryptocurrencies\">is confident<\/a> that the Fed will continue a tight monetary policy, which will wash out speculative assets like cryptocurrencies.<\/p>\n<p>According to Cramer, the commitment to curbing inflation may bring some pain to American businesses and households. This will continue until authorities \u201cput an end to the gambling.\u201d<\/p>\n<p>In his latest remarks, the ex\u2011manager of hedge fund Cramer &#038; Co included cryptocurrencies among the assets at risk. He said he no longer believes Bitcoin is a store of value. He also categorized NFTs and the shares of unprofitable public companies among speculative assets.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The Fed is telling you to sell the cryptos and the nfts and the ipos and the SPACs before they take your life\u2019s savings. No more nonsense!!!<\/p>\n<p>\u2014 Jim Cramer (@jimcramer) <a href=\"https:\/\/twitter.com\/jimcramer\/status\/1564758962725130241?ref_src=twsrc%5Etfw\">August 30, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abThe Fed tells you to sell cryptocurrencies, NFTs, <span data-descr=\"Initial Public Offering\" class=\"old_tooltip\">IPO<\/span> and <span data-descr=\"Special Purpose Acquisition Company\" class=\"old_tooltip\">SPAC<\/span>, before they take your savings. No more nonsense!\u00bb, emphasized the expert.<\/p>\n<\/blockquote>\n<p>Relying on data from past market cycles, Arcane Research <a href=\"https:\/\/u1f987.com\/en\/news\/analysts-foresee-bitcoin-price-dropping-to-10350\">allowed<\/a> for Bitcoin to drop to $10,350. They believe the bear phase bottom may be reached somewhere in late Q4 2022.<\/p>\n<p>Analysts noted that in recent years Bitcoin has been increasingly influenced by macro factors: financial markets, changes in the Fed\u2019s rate, US elections and crypto regulation.<\/p>\n<p>Researchers stressed that the second quarter was the worst for Bitcoin investors in the history of the cryptocurrency.<\/p>\n<p>According to them, the decline was driven by a cocktail of unpleasant events, including <a href=\"https:\/\/u1f987.com\/en\/news\/terras-death-spiral-how-and-why-luna-and-ust-collapsed\">Terra\u2019s collapse<\/a> and its consequences for the entire industry.<\/p>\n<p>Some Twitter users believe the bear market has not yet reached its final phase and that investors should prepare for further declines.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">It\u2019s probably not the bottom. Be ready for bitcoin to go lower. This winter will be hard.<\/p>\n<p>\u2014 Crypto Joker\/\/\/BTC,ETH,AVAX (@Mirna_lesvi) <a href=\"https:\/\/twitter.com\/Mirna_lesvi\/status\/1573090186468249601?ref_src=twsrc%5Etfw\">September 22, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abProbably not the bottom. Be prepared for Bitcoin to fall further. This winter will be painful\u00bb, wrote a September poll participant on Cointelegraph.<\/p>\n<\/blockquote>\n<p>A commenter on <a href=\"https:\/\/twitter.com\/nwocryptomoney\/status\/1573082287973216256\">Twitter<\/a> added a graph illustrating the \u201cbottoms of Bitcoin.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"und\">\ud83d\ude02\ud83d\udc47 <a href=\"https:\/\/t.co\/S6qwp5qShJ\">https:\/\/t.co\/S6qwp5qShJ<\/a><\/p>\n<p>\u2014 The Crypto Native \ud83c\udfdd\ufe0f (@thecryptonative) <a href=\"https:\/\/twitter.com\/thecryptonative\/status\/1573074359736205312?ref_src=twsrc%5Etfw\">September 22, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>One of the commentators <a href=\"https:\/\/twitter.com\/nwocryptomoney\/status\/1573082287973216256\">wrote<\/a> the following:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abThis is not the bottom yet, but if you want to buy now and hold, that\u2019s fine too\u00bb.<\/p>\n<\/blockquote>\n<p>A gloomy view would be incomplete without the opinion of the ardent Bitcoin critic and gold advocate Peter Schiff. In August he <a href=\"https:\/\/u1f987.com\/en\/news\/peter-schiff-again-predicts-bitcoin-will-fall-to-10000\">expressed confidence<\/a> that Bitcoin is unlikely to reach fresh highs and is more likely to drift toward $10,000 and below.<\/p>\n<p>He argued that the current rally in the crypto market, including a roughly 70% surge in Ethereum since July, is not sustainable. He called it a \u201csucker rally.\u201d<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abThe market will fall. I think people should take advantage of the rally that exists now and exit. Many are still in profit on these tokens. Some bought Bitcoin four, five, six years ago and are in the green. The same with Ethereum. People should exit, because otherwise the market will take that profit\u00bb, said the gold advocate.<\/p>\n<\/blockquote>\n<p Schiff stressed that the crypto market remains in a bubble, despite Bitcoin\u2019s price having fallen substantially from its highs.<\/p>\n<h2 class=\"wp-block-heading\">Conclusion<\/h2>\n<p>Experts\u2019 opinions are often subjective and vary widely, which is reflected in the broad range of price forecasts. Therefore such predictions should be taken with a fair degree of skepticism.<\/p>\n<p>The market continues to be heavily influenced by Fed rate decisions, as well as the geopolitical situation. Bitcoin is likely to rebound rapidly once U.S. monetary policy eases\u2014a development that will come sooner or later.<\/p>\n<p>Markets are cyclical by nature. Accordingly, a trend reversal is not far off. Long\u2011term investors should be heartened that most on\u2011chain indicators point to Bitcoin being deeply oversold.<\/p>\n<p>Following a prolonged flat, a strong move usually follows. Some metrics already hint at an upcoming spike in volatility, suggesting investors should buckle up.<\/p>\n<p>Follow ForkLog\u2019s Bitcoin news in our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ForkLog analysed the most relevant on-chain indicators, gathered interesting opinions and determined when to expect the recovery in Bitcoin\u2019s price.<\/p>\n","protected":false},"author":1,"featured_media":69295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"5","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[1144],"tags":[480,1146,1268],"class_list":["post-69294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-longreads","tag-bitcoin-price","tag-cryptocurrency-market-forecasts","tag-on-chain-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"5","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=69294"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69294\/revisions"}],"predecessor-version":[{"id":69296,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69294\/revisions\/69296"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/69295"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=69294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=69294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=69294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}