Express
CryptoQuant Analyst: Bitcoin MVRV Falls Below 365-Day Moving Average, Signaling Potential Market Entry into 'Undervalued Phase'
Summary: According to CryptoQuant analyst ShayanMarkets, the market value to realized value ratio (MVRV) of Bitcoin recently fell below its 365-day moving average, a signal that has historically preceded cyclical market bottoms. The analyst noted that the current MVRV ratio is around 1.9, slightly below its 365-day simple moving average (SMA). Historical data shows that each ...
According to CryptoQuant analyst ShayanMarkets, the market value to realized value ratio (MVRV) of Bitcoin recently fell below its 365-day moving average, a signal that has historically preceded cyclical market bottoms.
The analyst noted that the current MVRV ratio is around 1.9, slightly below its 365-day simple moving average (SMA). Historical data shows that each time MVRV falls below the 365-day SMA, Bitcoin prices have seen significant rebounds: up 135% in mid-2021, up 100% in June 2022, and up 196% in early 2024.
ShayanMarkets believes this pattern indicates Bitcoin may once again enter an undervalued range, prompting long-term holders to start accumulating at this stage. If history repeats itself, Bitcoin prices could potentially reach the range of $115,000 to $190,000 towards the end of the bull market phase.
Tags:
Link: CryptoQuant Analyst: Bitcoin MVRV Falls Below 365-Day Moving Average, Signaling Potential Market Entry into 'Undervalued Phase' [Copy]
