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
-
Q KI quark block chain bright third anniversary of the times fire all open!
From glory, after three years of development, quark block chain not only ushered in a major breakthrough in the digital economy, ecological construction and application landing technology, deep cultivation of the Internet + block chain applications, committed to the development of multiple ecological applications combined with quark public chain system, to create a more complete next generation block chain infrastructure.The quark block chain represents the new height of digital technology, and its innovative economic model also helps the quark block chain to break through the market. Both public chain technology…
02/07/2021 -
AI-Powered Retail Stores Driving Blockchain Applications Define Safety and Efficiency
In today’s digital age, the combination of blockchain and Artificial Intelligence (AI) stores is initiating a technological revolution aimed at optimizing blockchain operations and enhancing security through AI, bringing unprecedented changes across various industries. This innovative integration not only addresses the challenges of scalability, efficiency, and security faced by blockchain technology but also significantly expands its application range, from financial services to supply chain management, and from smart contracts to personal privacy protection, demonstrating its potential and value. The Fusion of AI and Blockchain Blockchain, a decentralized distributed ledger technology,…
Uncategorized 03/12/2024 -
Ethereum’s ‘EIP 1559’ Fee Market Overhaul Greenlit for July
One of the most significant and contentious alterations to the Ethereum blockchain in recent memory is now scheduled for inclusion into its codebase. Ethereum Improvement Proposal (EIP) 1559 will be packaged with the London hard fork this coming July regardless of the mining industry’s discontent with the proposal, according to the All Core Developers call Friday. At least five other EIPs are likely to join EIP 1559 in London. EIP 1559 flips a typical blockchain transaction on its head in order to fix numerous issues with Ethereum’s user experience. Traditionally, a user sends a gas…
Business 03/07/2021 -
A new type of online job opportunity has spread through the whole Kenya under the COVID-19 lockdown. Join to increase your revenue streams!
Life has been being consistently limited from the global Covid-19 lockdown, while social isolation has also brought thrives on the short-form social video platforms, such as TikTok and Instagram. And in this situation, influencer marketing incorporating social media is a new phenomenon within the industry. For example, some non-celebrity social media influencers can pull in millions of dollars each year from brand partnerships and sponsorships. No wonder that, it illustrates perfectly how big a fan community of a Social Media Influencer and how successful Social Media Influencer can nowadays become….
02/28/2021 -
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 -
SoftBank & WE Metaverse join hands to create a new ecosystem for the chain gaming industry
WE Metaverse officially announced that it has completed a new round of financing. This round of investment was led by SoftBank Asia, with Venus Acquisition Corp., Greencity Acquisition Corp., Golden Path Acquisition Corp., and other institutions participating in the investment and formally reached a strategic partnership. The two parties expressed their beautiful expectations for the future development of the Metaverse Ecosystem. SoftBank is a 2021 Forbes Global 2000 company and has a majority stake in more than 300 major IT companies in the world. It continues to invest in the layout…
12/16/2021 -
New asset class: NFT fusion assets created by META X CITY take off
Fusion NFTs more profound than other alternative asset classes is the timing. The world is still gripped by volatility, uncertainty, complexity and ambiguity. A fourth wave of COVID is spreading around the world, bringing with it more economic disruption. Energy prices are spiraling and clogged up shipping is leading to an acute shortage of goods, all while companies report increasing rates of resignation and nobody to fill the subsequent vacancies. Interest rates are still at rock bottom despite galloping inflation. This dynamic repeats itself over and over again, from basketball…
12/26/2021 -
Преодолевая дилемму GameFi « Спираль смерти » и анализируя экономическую модель Murphy
С момента взрыва Axie Infinity в этом году на рынке появилось множество продуктов GameFi. GameFi может быть понят как система блочных цепочек игр, которая включает в себя токен-экономическую модель, игра и DeFi, таким образом, представляет финансовый механизм в gamification, простое понимание состоит в том, что в игру добавлена финансовая реализация, чтобы сделать участников более интересными в процессе получения прибыли. В GameFi игроки могут зарабатывать замещающие валютные награды во время игры, жетоны используются для покупки оборудования, улучшения персонажей и т. Д., Также они могут продавать на вторичном рынке, чтобы получить прибыль…
10/23/2021 -
Introducing DAMN’s SecretBox
Secure, easy-to-use multichain wallet powered by DAMNCool Ecosystem DAMNCool is building a revolutionary AI-powered DeFi ecosystem, to help users manage their on-chain cryptoassets at ease, and get high yield returns through our intelligent AI yield aggregator. By creating an ecosystem that links DEX, NFT marketplace, yield aggregator and mobile app altogether, providing you the best one-stop asset management service in the blockchain world. One of the most important products in our ecosystem is our wallet app – SecretBox. SecretBox is an easy-to-use, secure and versatile multi-chain wallet dedicated to providing…
11/17/2021 -
Sorare will launch on PancakeSwap at 12:00 UTC on May 19th, 2021
According to the latest official news, sorare community, a $50 million NFT platform for digital football, will release its token sorare and launch pancakeswap at 12:00 UTC on May 19th, 2021. According to the community, the government has been contacted to plan the follow-up application of the token. In addition, five members of a football club have been invited to live the interaction. Contract address: 0x5463f3cb2839cb46e6df6e9bb4386688e5b3eda twitter:@SorarePR Telegram:t.me/Sorare_ Exclusive
Uncategorized 05/17/2021