Bitcoins on the Move — Is BTC Price Inversely Correlated to Mempool Size?
Cointelegraph
Published Mar 28, 2020 09:18PM ET
Updated Mar 28, 2020 10:20PM ET
After making a strong recovery from $3,775 to $6,450, Bitcoin’s (BTC) price has traded in a tight range which has seen the price struggle to push above resistance at $6,400 and $6,850. Despite the current pullback, technical indicators like the Stock-to-Flow model and the network’s consistent growth in hash rate show that investors have regained a small amount of confidence.
Another factor worth considering is Bitcoin’s mempool size as it also can provide some insight into how buyers and sellers are reacting during these uncertain times.
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Written By: Cointelegraph
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