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
-
MetaSecond.AI OG Event – 1st Meta Solider Recruitment Event
Get ready for the Meta Soldier Recruitment — the verrrry 1st OG event for MetaSecond.AI! Buckle up buttercups, the hype train is leaving the station! Calling all brave-hearts and adventure-seekers, this is your chance to become a Meta Soldier — the most badass role in our community! Be an early bird and join MetaSecond.AI to help build and protect our metaverse. This ain’t no soldier boy-band, only the strong survive! 💪 Ready to catch this neuro-train to fame and fortune? Enlist now before spots run out! Hustle hustle, no time…
-
Eagle Crest Asset Management Prepares for Global Investors Summit Founder Ridel Bosco Castillo to Speak on U.S. Investment Landscape and Strategic Collaborations
In a rapidly changing global economy, opportunities often lie in gathering the sharpest minds under one roof to exchange ideas, form alliances, and envision the future of investment. Eagle Crest Asset Management, led by its founder Ridel Bosco Castillo, is set to host an event of significant global importance—the upcoming Global Investors Summit, an event that promises to be a beacon for investors looking to gain critical insights into the present and future of the financial landscape. As the investment world evolves, the summit aims to shed light on strategic…
-
Eagle Crest Asset Management service
As the global economy undergoes rapid change, companies at the forefront of innovation are transforming industries by leveraging cutting-edge technologies and forward-thinking strategies. Eagle Crest Asset Management, since its inception in 2019, has demonstrated an unwavering commitment to this transformation. The company is strategically positioning itself for the future by establishing partnerships around the globe and preparing for an industrial revolution led by artificial intelligence (AI). Eagle Crest Asset Management is not just a financial institution; it is the future of asset management and industry innovation. Global Expansion and…
-
Coinbetter: Looking at the revolutionary road of NFT from X2Y2
The explosion of X2Y2 will only take a short period of time. On February 16th, the NFT trading platform X2Y2 announced that 12% of the tokens (120 million pieces) were used for airdrops to OpenSea historical trading users. However, three hours after the event started, X2Y2’s token airdrop activity was suspended. At that time, X2Y2 officially stated that because the user experience of the airdrop was not as expected, the team would suspend the airdrop to improve the overall user experience. As of the suspension of the event, 0.5% of…
-
New World Asset Management Ltd NWAM and AlgoDynamix reach a comprehensive strategic cooperationLeading the new era of intelligent risk management
In the ever-changing global financial market, investors have an increasing demand for accurate market insights and intelligent risk management. Market volatility, emergencies and global economic uncertainty have brought unprecedented challenges to investors. However, in the face of these changes, New World Asset Management (NWAM) and AlgoDynamix have joined forces to provide global investors with forward-looking market risk management solutions to help them remain invincible in market fluctuations. As a leading global risk analysis company, AlgoDynamix relies on its unique AI and big data analysis technology to focus on predicting market…
-
KING LONG YAO: A Revolutionary Leap in Blockchain Gaming
KING LONG YAO stands at the forefront of the blockchain gaming revolution. As an innovative game that merges traditional gaming dynamics with the latest in blockchain technology, it has rapidly carved out a niche in the global gaming landscape. This paper delves into the current state of KING LONG YAO, exploring its global user base, community engagement, and ongoing technological evolution, while also looking ahead to future developments including global gaming summits and community expansion initiatives.Current State of KING LONG YAO Global Reach and User BaseKING LONG YAO has successfully…
-
AI Store Voice Technology: Reshaping the Future of Human-Machine Communication
Among the many areas of artificial intelligence (AI) in stores, voice recognition and application generation technology are undoubtedly some of the most transformative advancements. These technologies have not only changed the way we interact with AI machines but also opened new channels of communication for people with special needs. This article will explore the latest developments in AI store voice recognition and application generation technologies, their applications in the real world, and their potential impact on future modes of interaction. Voice Recognition: A Leap in Accuracy The development of AI…
-
Aptos comes out of nowhere, a new story for public chains in 2022?
Looking at this bullish round of public chain rotation outbreak, the public chain landscape is not yet a foregone conclusion, despite ETH’s first-mover advantage. For example, Solana, which is light on technology and heavy on ecology, uses measures such as introducing liquidity mining, providing subsidies for developers, holding hackathon and providing donation funds to incentivize users to experience their platform, while Polygon, Fantom, Harmony, Avalanche, Celo and NEAR, on the other hand, have taken a different approach and launched incentive programs one after another thus promoting their ecological prosperity. Whether…
-
AI Finance Academy Empowering Cross-Border E-Commerce through AI-Driven Financial Education
In today’s rapidly evolving global marketplace, the intersection of artificial intelligence (AI), finance, and cross-border e-commerce is reshaping industries around the world. As international trade continues to grow, the need for specialized training in AI-driven financial solutions for cross-border transactions has become increasingly crucial. The AI Finance Academy is at the forefront of this transformation, equipping the next generation of finance professionals with the skills needed to navigate the complexities of cross-border e-commerce. By focusing on university partnerships, talent development, and AI innovation, the AI Finance Academy is helping businesses…
-
Bitfury’s Deep Ploughing on Blockchain Mining · Coinbasis Plan Launched
Australian Bitcoin mining hardware giant Bitfury is set to expand its industry into distributed storage. FlashFX, AgriDigital and Othera will also jointly deploy the distributed storage ecological field, create the establishment and trading of distributed storage financial derivatives, and create super servers with the world’s top three server manufacturers. With the massive growth of global data. Privacy security and access speed have become the most critical issues in data storage. Bitfury and his partners plan to develop a decentralized distributed storage, data sharding and data encryption platform without downtime. Through…
