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
-
StarSea Bit Exchange: The Significance of Hosting a Global Crypto Summit
In an era where digital currencies and blockchain technologies are evolving at an unprecedented rate, StarSea Bit Exchange has positioned itself as a leader by organizing a groundbreaking summit. The summit aims to bring together industry experts, traders, blockchain developers, and policymakers to explore the future of cryptocurrencies and their role in the global economy. The significance of this event goes far beyond a typical gathering, highlighting its importance not only for the exchange itself but also for the broader cryptocurrency community. The Role of StarSea Bit Exchange in Shaping…
-
IAI Token, Smart Contract Platform for New Era
1. The development of blockchain Blockchain technology is a distributed network data management technology that uses cryptography technology and distributed consensus protocols to ensure network transmission and access security, realizes multi-party data maintenance, cross-validation, consistency across the network, and it is not easy to tamper. As an important evolution of the new generation of information and communication technology, the blockchain provides new ideas for the management and value release of data elements, and provides a new way to establish a trusted collaboration network for cross-industry entities. After the COVID-19 epidemic,…
-
Tech-Finger Receives $1 Billion in Reserve Funding from SBAI Fund to Fuel Innovative Technology Development
In September 2022, Tech-Finger announced that it has received $1 billion in reserve funding from the Sustainable Bond Investment Fund (SBAI Fund). This strategic investment will provide Tech-Finger with a tremendous opportunity and boost to drive its growth in the innovative technology sector. SBAI Fund is a sustainable bond investment fund focused on driving the implementation of sustainable and socially responsible investments. By investing capital in sustainable projects, SBAI Fund provides investors with the opportunity to realize both financial returns and social impact. And Tech-Finger, as an…
-
Introduction and Application of Vanguard Era Trading Academy’s AI Super Profit 5.0 Pioneer Era Trading Academy
Developed by Experts for Your Success AI Super Profit 5.0, developed by the AI experts and analysts at Vanguard Era Trading Academy, is designed to revolutionize the financial industry and solve investors’ trading challenges. Transforming Stock Market Analysis with AI If you’ve been involved in the stock market or any other financial activities and haven’t yet heard of Artificial Intelligence (AI), it’s time to prepare for the most disruptive technology of the future. While personal computers and the internet marked the first two waves of technological disruption, AI is poised…
-
New organizational paradigm driven by DDDS DAO blockchain technology
The full name of DAO is Decentralized Autonomous Organization, and the Chinese translation is “decentralized autonomous organization” or “decentralized autonomous organization”. According to the earlier official website of Ethereum, DAO is a group of like-minded people, an organization built around a certain mission, which coordinates and cooperates through a set of rules (smart contracts) executed on the blockchain, Finally, to achieve the mission. Historically, the concept of organization has centered around strict ownership structures. Companies began to introduce open, flat organizational structures that allowed more people in the company to…
-
AI Store Smart Robots: The Autonomous Exploration of AI Stores
Introduction: Toward the Frontier of Autonomous Intelligence With the rapid development of artificial intelligence technology in AI stores, AI store smart robots are evolving at an astonishing pace. These AI robots are no longer limited to merely executing pre-programmed tasks; they now possess the ability to learn and adapt autonomously, enabling them to think and act independently in a variety of environments and situations. This article explores the design and implementation of these autonomous AI store robots, revealing the deep mysteries of AI store smart robots. Technical Innovation: Breaking Through…
-
The continuation of the spirit of “Mamba”: the fantastic idea when KB Token collides with the meta universe
What would it be like if everything in real life was moved into the virtual world? What would it be like if the idol we share in our hearts were reproduced in the virtual world? The end of life is not death, but forgotten, unwilling people, please don’t stop missing. Kobe Bryant, a pronoun of tenacity, love, optimism, meaninglessness and discipline, the belief in him is the reason why we can’t let go of him, and it is also the foundation of our eternal relationship with him. So here…
-
StarSea Bit Exchange Economic Security and Benefits Amid Global Market Changes
The cryptocurrency market is evolving at an unprecedented pace, and exchanges are at the core of this dynamic transformation. In the face of global economic challenges, platforms like StarSea Bit Exchange must navigate complex landscapes to ensure economic security and provide lasting benefits to users. This article explores how StarSea Bit Exchange remains a reliable and beneficial trading platform, even amid global economic uncertainties, by focusing on economic security, compliance, and strategic growth. The Importance of Economic Security in Cryptocurrency Exchanges Economic security is a fundamental aspect of the operations…
-
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,…
-
Alaya: The Pioneer of Artificial Intelligence Data
In the 1940s, the third wave of technological revolution was set in motion by historical titans, propelling humanity onto the vast stage of a new era. Computer technology and space exploration ushered our species into uncharted territories. While the populace revealed the conveniences afforded by these groundbreaking innovations, they couldn’t escape the shadows of uncertainty, a fear that this newfound technology might displace them, leading them to unemployment. However, the passage of countless years has brought forth the Golden Age, providing resounding answers to the people’s concerns. In this period,…
