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#1185 Will Clemente On Bitcoin: Start Of The Next Bull Run?
The Pomp Podcast
Bitcoin's Clinical Market Cycles
The Puyall multiple is a metric that looks at the value of miner issuance every day relative to the trailing 365-day moving average. And so whenever we see this kind of capitulatory behavior where we see the sharps kind of spiked down into that green zone, what that's indicating is partially a byproduct of price, but just that miners under extreme stress. So yeah, from a like cyclical perspective marked this like very similar behaviors to what we saw in 2018 and also in 2015 as well. It indicates that potentially the worst is behind us for miners.
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