Sunday, August 14

Juan Rodríguez: the Bitcoin ledger does not lie

The types of financial, stock and market analysis are varied; And although there are great theoretical frameworks in this regard, each person approaches with their own methods.

With Bitcoin and cryptocurrencies, this fact has been accentuated, giving rise to speculative practices and the appearance of analysts who seek to justify market movements under any logic or interpretation, at their convenience.

It does not happen in the same way with Juan Rodriguez, who is using the hard data of the Bitcoin blockchain to analyze its market and price.

Juan is a bitcoiner, analyst on-chain and content creator, as well as a speaker at conferences and workshops on the subject. Regarding your participation as a speaker at LabitConf 2021, CriptoNoticias held an interview with him, where he told us about his experience in El Salvador, in addition to the details of his profession as an analyst of the Bitcoin markets.

To get even more into the atmosphere, we did this interview from La Bitcoineta Beach Edition, the new version of this car that will now tour El Salvador carrying the message of Bitcoin.

Regarding the adoption of Bitcoin in El Salvador, Juan commented:

There are several shops where they accept it. We must be clear and say that at this time it is not that we have the great adoption, for now, in El Salvador. You go to certain shops and some say ‘Yes, we have already implemented it’; Some think that Chivo is Bitcoin, they have some kind of confusion. But I think it is a matter of time, a matter of education, and I believe that what has been done in LaBitConf and in Bitcoin Week, in general, contributes a lot to that, to tell you what Bitcoin is and how you can benefit from it.

Juan Rodríguez, on-chain analyst of Bitcoin markets.

The numbers are on the block: analysis on-chain markets in Bitcoin

The analyst says that when it comes to prices, no one has a magic formula. While the fundamental analysis studies traditional assets, the accounting record of Bitcoin allows to see how long ago people have received or moved their funds in the cryptocurrency.

This opens the possibility of knowing which have been the entry and exit points (purchase and sale) of investors, and for how long the holders have been saving.

Thus, it indicates that the base or floor of the average price of BTC, It is formed from the entry price of the holders longer term.

The interview with Juan Rodríguez is full of nuances and details. It is worth considering, among them, the possibility that some privacy tools or practices affect the collection of data on-chain in Bitcoin, as is the case with Taproot.

What we are seeing at this moment with Taproot brings its implications in both the way in which the providers of this information on-chain evaluate and distinguish data […] But still, since Bitcoin is a public network, in which you can install your node and start traceability, as many companies do, you can really, with a certain level of assertiveness, approximate where the price of Bitcoin is going […].

Enjoy of the full interview with Juan Rodríguez on the YouTube channel of CriptoNoticias.

Reference-www.criptonoticias.com

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