- William Clemente III, 19, is a crypto whiz whose on-chain analysis has pulled in many followers.
- Clemente has been featured in Bitcoin Magazine and he writes weekly for Anthony Pompliano.
- The East Carolina University finance major detailed 3 reasons why he’s bullish on bitcoin.
Most college students are worried about parties, dating, or maybe finals depending on the time of year — but William Clemente III has bigger things on his mind.
The 19-year-old East Carolina University finance major spends his time analyzing bitcoin’s blockchain data to reveal insights for thousands of cryptocurrency investors around the world.
He’s become a rising star on social media of late, amassing over 125,000 followers on Twitter in a matter of months based on his prophetic insights.
Clemente writes a weekly column on the Substack of noted bitcoin bull Anthony Pompliano, has appeared on multiple popular crypto podcasts, written a number of articles for Bitcoin Magazine, and even publishes his own Substack featuring in-depth on-chain analysis.
Insider spoke with Clemente about his rise in the crypto sphere, and where he sees the world’s leading digital currency going from here.
He said that his popularity among bitcoiners is an example of the acceptance the community has for anyone who can provide quality insights.
“It doesn’t matter where you come from, your age, your race, your gender; if you’re providing value then the bitcoin community will recognize that,” Clemente said.
Clemente’s value comes from widely available, but equally complex, bitcoin blockchain data that he interprets for investors.
When speaking with Insider, the rising crypto star said the bitcoin market is in the midst of a “re-accumulation phase” and he remains bullish even after the cryptocurrency’s fall from over $65,000 per coin.
Below, Insider detailed three reasons the young crypto expert gave for his bullish stance, among many. All are based on publicly available blockchain data.
1) “Strong hands” accumulation is creating a price base
“Strong hands” refer to long-term holders of bitcoin, and according to Clemente, these bitcoin believers have been accumulating the digital asset even as the total supply held by short-term holders has flatlined.
Clemente told Insider this was “setting the floor for bull run continuation ,” arguing that a similar pattern emerged in the middle of both previous bitcoin bull markets.
2) Clemente’s OTC Desk Outflow Stoch RSI Signal is flashing green
Clemente isn’t just known for interpreting Glassnode data. The crypto rising star also creates his own metrics to help investors find a clear signal to buy.
Below is Clemente’s OTC Desk Outflow Stoch RSI Signal (he admits a name change may be in order). It tracks the behavior of high-net-worth individuals and institutional players that buy and sell digital assets through over-the-counter desks.
The signal works by flashing every time OTC desk outflows’ relative strength index (RSI) exits the purple range shown in the chart above. When it exits on the high side, that means “big money” is adding bitcoin; when it exits on the low side, they are net sellers.
The simple idea is, add bitcoin when the whales do. And, according to Clemente, his signal has been right 90% of the time over the past year.
3) A recent increase in the number of new entities on the bitcoin network
Clemente pointed out that data from Glassnode shows a distinct rise in the number of new entities on the bitcoin network in 2021. While many in the crypto community have argued a
is coming, Clemente notes that in previous bear markets, the number of entities on the bitcoin network dropped sharply — the opposite of what the market is experiencing today.
While the number of entities on the bitcoin network fell after the cryptocurrency’s price sunk from record highs above $65,000 per coin, it appears most have returned, or new users have taken their place.
Clemente wrote in Anthony Pompliano’s Substack letter on June 25 that he “would be very curious to see how many of these new users are coming from Latin America.” The bitcoin analyst is referencing El Salvador’s move to make bitcoin legal tender and other Latin American nations’ decision to at least look into following suit.
While Clemente believes a continued bull run is in the cards for bitcoin, he also noted a few trends he would like to see turn around to be even more confident.
First, bitcoin whales (holders with more than 1000 bitcoin) accumulation is flat, and Clemente would like to see growth in that area to be even more bullish. Secondly, bitcoin miners are currently net sellers as many operators adapt to new regulations in China and move their mining rigs.
If these two factors turn around, Clemente would be even more sure of bitcoin’s bullish future.