This Blockchain Indicator Might Show Bitcoin Rally Has Legs
Bitcoin’s price has nearly doubled this year, but the rally could have room to run. That’s based on a new report by Coin Metrics, a cryptocurrency data firm, which shows bitcoin (BTC) is not at an extreme relative to the previous market top in 2018.
The MVRV ratio is a measure of bitcoin’s market value relative to its realized value. The gauge represents the difference between the cryptocurrency’s current price and the average price at which bitcoins were acquired. When it reaches an extreme, the thinking goes, traders might be inclined to take profits, creating sell pressure that could push price down.
- The near 20% bitcoin sell-off from an all-time-high around $60,000 last week triggered a decline in the MVRV ratio to 0.88.
- “Historically, the periods that MVRV has dropped below 1.0 have been some of the best times to invest in BTC,” according to Coin Metrics.
- The MVRV indicator reached an extreme around 4 in 2018, and near 6 in 2014, just prior to the start of bear markets.
Recommended News
-
Lynk Seeks to Redefine Community Governance with Node NFT Program
SocialFi platform Lynk set to launch its exclusive Node NFT Program to foster the growth of a decentralized Web3 community Lynk is setting the stage for a new era in decentralized community governance with the introduction of its Node NFT Program. Aimed at empowering early adopters, this groundbreaking initiative is expected to facilitate the growth of a vibrant community in Web3, while showcasing the company’s commitment to innovation and inclusivity. The SocialFi platform has made great strides in the first quarter of 2023, most notably with the launch of its…
04/29/2023 -
Genesis NFT airdrop in Europe and the US——MotorN’s love is coming!
The United States in North America is the global leader in the PC Internet Web1.0 era, and China in Asia is overtaking in the mobile Internet Web2.0 era, while the main force of the development of web3.0 is still in Europe and the United States, and Web3.0 is becoming a new field of “fighting” for the Internet giants in Europe and the United States in 2022. The next decade is the golden age of web3.0 development, instead of hesitating in the retreating web2.0, why not stride into web3.0 and find…
08/12/2022 -
On the financial track, how doesGBi innovate
On the evening of December 30,Feifei, head of The Chinese community ofGlobe Financial Bi (hereinafter referred to as GBi), shared the themeof “On the financial track, how does GBi innovate” onAnypay, the marketing planning service incubated by The Blockchainproject in China, and comprehensively introduced the ecology,application and vision of the GBi project. GBi,the full name of Globe Financial, Bi, is a strategic investment bythe Singapore Financial ecological foundation platform for the globalone-stop Financial ecology, aims to block chain technology,artificial intelligence, such as large data of blessings, makeeveryone can participate in,…
12/30/2020 -
WEB3.0’s first war why FSV is the main field
According to the data survey, it was found that in the current hot wind of the meta-universe, “whether it is a big factory or a startup team, more and more people are entering Web3.0 throughout 2022.” In the promotion of capital and various institutions, the star project FSV in 2022 also began to build FSVSWAP based on FSV smart chain, is expected to complete all main network testing and successful launch in Q4 2022, this FSV build FSVSWAP engine page based on FSV smart chain also marks the era of…
06/26/2022 -
How does GameFi+DEFI drive the blockchain games industry upgrade?
If 2020 is the first year of DeFi outbreak, then 2021 is undoubtedly the first year of GameFi blockchain games outbreak. According to DappRadar’s statistics, on April 18th, 2021, the number of transactions in the blockchain games sector was as high as 480.7 billion dollars. As of July 31st, the number of users in the blockchain games sector exceeded 780,000, an increase of more than 170 times compared with the beginning of the year, and the number of daily active wallets in GameFi increased by 700% from March to July. As of July 30,…
Uncategorized 10/18/2021 -
Fintoch Released Year-round Plan for Roadshow in Pan Asia Pacific
As William the COO of Fintoch raised his hand overhead and claimed “Fintoch, yes!” on stage, we see a blockchain financial platform arise in this bear market to strengthen the binding bonds to protect investors’ rights and facilitate the further development of DeFi. On November 13, the first stop of Fintoch’s roadshow series officially began in Kuala Lumpur, Malaysia. This Asia Pacific Official Launch Conference was held at Hotel Seri Malaysia Genting, which had a prolific three-day schedule. The goal of Fintoch’s roadshow is to spread Fintoch’s financial public chain and concept…
11/18/2022 -
What is the Universal Basic Asset(UBA Finance)
Universal Basic Asset (UBA Finance) has attracted a lot of user attention, so is it worth your time? There are nearly 10,000 people mining online for free every day. How much profit can he bring you? In the cryptocurrency industry, people get rich every day, and people get huge airdrops every day, just because they pay attention to some projects in advance and spend some time understanding and participating in them. Universal Basic Asset (UBA Finance) has recently been adopted by more and more users Mention, so what is he,…
03/03/2023 -
Artificial Intelligence (AI) Stores: The Future of Disease Diagnosis and Patient Monitoring
Introduction: The Rise of Artificial Intelligence in Healthcare With the rapid development of artificial intelligence technology, its application in the healthcare sector has become a key driving force for progress in the field. From early disease diagnosis to real-time patient monitoring and in-depth analysis of medical images, AI store applications are gradually changing the way healthcare professionals interact with patients, offering unprecedented possibilities for disease treatment and patient care. Applications of AI in Disease Diagnosis Early Detection and Accurate Diagnosis Artificial intelligence technology, by learning from a vast amount of…
03/12/2024 -
AI Stores and the Revolution in Everyday Life
AI stores mark our entry into a new technological era, an era where the potential of AI stores is nearly limitless. With the continuous development and improvement of AI technology, its role in enhancing our work and lifestyle will grow increasingly significant. These advancements are reflected not only in increased efficiency and productivity but also in offering unprecedented convenience and new possibilities to humanity. Future Trends of AI Stores Looking ahead, AI stores are expected to become one of the primary drivers of technological innovation and application. As more developers…
03/12/2024 -
Mobius Digital Token Game Wallet-Practicing Robert Kiyosaki’s Road to Financial Freedom
“Once you understand how money works, and know the various opportunities you can have in the future, you can start living the life of your dreams.” In 2021, information becomes more and more valuable. Some people can get rich overnight just by managing money. This is knowing how to invest. How to study the movement of money? How to make money work for yourself, and have the investment mind, these are not learned in daily life. Robert Kiyosaki, the world’s top financial and business educator, wrote the “Rich Dad, Poor…
01/16/2021