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
-
Le jeu Metaverse Murphy sera-t-il la star la plus éblouissante du BSC
“Quelle est exactement la fin d’Internet? Serait-ce un méta-univers?” La science-fiction “Avalanche” dépeint un monde virtuel en ligne multijoueur appelé Metaverse, où les utilisateurs peuvent voir la scène du méta-univers à travers le dispositif oculaire et se trouver dans un monde virtuel dessiné par ordinateur avec des lumières brillantes et des millions de personnes dans la rue centrale. Les routes principales et les règles mondiales du méta-univers sont formulées par la Computer Association Global Multimedia Protocol Organization.Les développeurs doivent acheter des licences de développement foncier, puis construire des rues, construire…
10/20/2021 -
CGS brand upgraded to CGL to create web3 gamefi traffic portal
With the rapid growth of the web3 market, CGS has begun to accelerate the globalization. As the gamefi market has been recognized in recent years, the audience of CGS is gradually moving from gamefi enthusiasts to the entire web3 crowd. As the blockchain is gradually recognized by the public, CGS will face new opportunities and challenges. So CGS (Crypto Gladiator Shards) brand upgrade was renamed CGL (Crypto Gladiator League), which will grow from the original single game ecosystem to a game platform and become the game traffic portal of the…
02/23/2023 -
Global AI Store Technology Trends and Future Outlook
Globally, the development and application of Artificial Intelligence (AI) store technology are experiencing an unprecedented period of rapid growth. Governments and private enterprises worldwide are actively investing in AI stores to enhance national competitiveness, improve social welfare, and drive economic growth. This article explores current trends in the use of AI stores around the world and predicts future directions of development. Global Perspectives on AI Technology Application From North America to Asia, and Europe, AI technology is being used across various sectors, transforming how we work and live. In North…
Uncategorized 03/12/2024 -
Groundbreaking Entry: CoinW Becomes offiical supporter of EAFF E-1 Championship 2022
On July 14, 2022, CoinW officially announced that it is the official supporter of EAFF E-1 Championship 2022, and the first crypto venture capital in the world to officially cooperate with the East Asian Cup. While demonstrating the competitive spirit of soccer, CoinW will also leverage the tournament to solidify its presence in the East Asian and Asian market. It will also contribute to the development of blockchain in Asia and globally, by providing diversified products, quality services and innovative technologies. The East Asian Cup has gained wide influence and popularity in…
07/15/2022 -
Children in Nigeria who need basic necessities have been given supplies by CoinW Public Welfare Action
CoinW shows that it has empathy for the problems of the poor in Africa and donates aid and relief materials, to raise awareness of the brand’s purpose. On June 13, the African team of CoinW (www.coinw.com), the world’s leading cryptocurrency trading platform, and some volunteers from the crypto community pays a visit to Living Fountain Orphanage in Lagos, Nigeria, with a batch of charity supplies for the children to show their love and care. Covid-19 exacerbates poverty in Africa. Due to the economic impacts brought by the Covid-19 epidemic, poverty…
06/13/2022 -
Crypto Long & Short: Bitcoin’s Relationship With Gold Is More Complicated Than It Looks
Earlier this week, JPMorgan published a global markets strategy note that points out that money has flowed out of gold and into bitcoin since October, and predicts that this trend will continue over the medium to longer term. The easy conclusion is that investors are finally understanding that bitcoin (BTC, -0.62%) is a superior future store of value to gold, and are rotating out of one and into the other. I’m not convinced that’s what we’re seeing. I agree with the analysts, though, that inflows into bitcoin will continue to increase, but not because investors are changing…
12/14/2020 -
“Emotion AI Stores: The Fusion of Emotion and Technology
Introduction: The Emotionalization Process of Technology In the current era of evolving artificial intelligence (AI) store technology, we are witnessing a historic turning point—the rise of emotion AI stores. The goal of this innovative technology is to break down the traditional boundaries of human-computer interaction by understanding and responding to human emotions in a deeper, more empathetic way. The emergence of emotion intelligence AI stores not only signifies a new direction in the field of AI but also marks a deepening of our understanding of the relationship between technology and…
Uncategorized 03/12/2024 -
Money Reimagined: Letter to President Biden
President Biden needs to reform the global financial system and avoid a 1930s-style depression. Digital currencies can help. Welcome to this week’s Money Reimagined, coming to you two days into a new U.S. presidency. Already, with various executive orders and a host of cabinet and agency nominee names emerging, President Joe Biden has fostered the palpable sense of a slate being cleaned. As for what it means for crypto, the turnover in the White House gave Sheila Warren and me reason to invite Kristin Smith of the Blockchain Association and…
01/23/2021 -
Metaease takes you into the real Metaverse
As of now, Metaverse has a market cap of $100 billion, and if you include Facebook’s market capitalization, then Metaverse’s market capitalization is at least $1,100 billion. According to Bloomberg research, the “metaverse” market is expected to reach $800 billion by 2024 and 2.5 trillion by 2030. The future of the metaverse market is immeasurable, but there is always a hidden side to the glory, and the metaverse industry is no exception. Let’s take a look back at 2021 on the internal situation of the entire metaverse industry. GameFi’s play…
01/10/2022 -
The new crown epidemic has given rise to a new consumer model Can it continue to drive Amazon’s performance growth?
The domestic epidemic is basically coming to an end, but the foreign epidemic is escalating. Things have been bought up inside supermarkets, which is especially applicable to the mask products of the moment. On the one hand, very few big-selling masks are sold by the day in tens of thousands, and on the other hand, a large number of accounts are blocked because of selling high-priced masks. The development of the epidemic touches everyone’s nerves and concerns the future of every cross-border person. In order to reduce the impact of…
01/12/2022