Bitcoin has traded more than $ 111,000 to record the highest ATH last week as the Crypto Bull Run Revival continues. Premier Cryptocurrency has experienced some sponsorship since then, but it has been greatly promoted by the US government’s potential new trade tariffs, but investors are still strong as a continuous signal of the current rise.
Interestingly, the encryption analyst, BILALHUSEYNOV, observes a rare development with the value ratio (MVRV), which has a realized market value, showing a positive difference from others.
Bitcoin MVRV stays at 2.4 in the new ATH -What can this mean?
On May 23, at Quicktake Post, Bilalhuseynov shares interesting insights to the Bitcoin market after the recent development. In particular, the Premier Cryptocurrency recorded a new all -time high at $ 111,970 on May 22, ultimately confirming the effectiveness of the current bull.
In this optimistic development, BILALHUSEYNOV pointed out that the MVRV ratio did not reach the highest number when Bitcoin set up a new ATH in the previous bull. In the context, MVRV measures Bitcoin’s market cap by realized CAP, the value of all bitcoin at the last purchase point. The ratio of 1 or more MVRVs suggests over -assessment and the figure of less than 1 shows undervaluation, so it is used to indicate trend reversal.
According to BILALHUSEYNOV, when Bitcoin achieved a new ATH in 2013, 2017 and 2021, the MVRV ratio reached the highest value between 3.5-4.0. However, the MVRV ratio is 2.4, following the $ 109,000 solar eclipse. The encryption analyzer explains that the reduced number of MVRVs can be connected to the imbalance increase of the realized CAP compared to the market cap. This development can be caused by the fact that a large amount of circulating bitcoin exchanges hands at a higher price, which causes higher costs.
Interestingly, BILALHUSEYNOV explains that this unusual development is a positive sign of Bitcoin’s long -term development, indicating a stable market at ATH prices, and indicating that there is little bubble and over -advertising -oriented past. In addition, more powerful market hands, that is, long -term holders and institutional holders may be part of this new investor, and long -term market confidence suggests that it is urgent.
BTC price outline
At the time of writing, Bitcoin is trading $ 108,397 after regression last day. Premier Cryptocurrency decreased 2.50% last day, but increased 17.65% last month.
PEXELS’s main image, TradingView chart
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