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This is an on-chain indicator used for Bitcoin price prediction at the bear market lows. This means that it is trying to identify the lowest price that Bitcoin may drop to in the future.
It is calculated by subtracting Transferred Price from Realized Price.
Transferred price takes the sum of Coin Days Destroyed and divides it by the existing supply of bitcoin and the time it has been in circulation. The value of Transferred Price is then multiplied by 21. Remember that there can only ever be 21 million bitcoin mined.
Realized Price is the cost-basis value of all bitcoin in circulation. You can learn more about it here.
Balanced price was created by David Puell.
Identifies Bitcoin cycle highs by comparing near-term spending velocity with yearly average of spending velocity.
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