Bitcoin MVRV At Critical Support Line, Will Retest Be Successful?
On-chain data shows the Bitcoin Market Value to Realized Value (MVRV) ratio is nearing a retest that could be crucial for the asset. Bitcoin MVRV Ratio Is Nearing In On The 1.2 Level As an analyst in a CryptoQuant Quicktake post explained, the 1.2 level of the MVRV ratio has historically been a support line for the cryptocurrency. The “MVRV ratio” is an indicator that measures the ratio between the Bitcoin market cap and the realized cap. The “realized cap” here refers to a capitalization model for BTC that assumes the real value of each coin in circulation....
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The MVRV ratio is firmly sticking to its 2-year uptrend, with support in place for fresh all-time highs, says Stack Funds. Bitcoin (BTC) has support to climb all the way to $15,000 if historic trends repeat themselves this year, a new report says.Compiled by crypto index fund provider Stack Funds on Oct. 15, the report highlights Bitcoin’s market cap vs. realized cap ratio (MVRV) fuelling gains, which could smash $12,000 resistance.Report expects “significant break” in MVRVBitcoin has yet to attempt a breakout of $12,000, seeing rejection at $11,700 this week. This has failed to dent....
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On-chain data shows that the Bitcoin Market Value to Realized Value (MVRV) ratio is doing a retest that has historically been significant for BTC. Bitcoin MVRV Ratio Is Retesting Its 365-Day SMA Right Now As explained by an analyst in a CryptoQuant Quicktake post, the Bitcoin MVRV ratio is retesting a level that has acted as an important psychological level in the past. The “MVRV ratio” here refers to a popular on-chain indicator that, in short, compares the value that the investors are holding (that is, the market cap) against what they used to purchase the cryptocurrency (the....
The MVRV ratio, a Bitcoin indicator, might suggest that the current bull run isn’t over, and the price of the crypto is yet to peak. The MVRV Ratio Indicates The Cycle Isn’t Over Yet As pointed out by a Crypto Quant post, past cycles seem to follow a specific pattern on the MVRV charts. This might suggest that the current bull run hasn’t peaked yet. MVRV stands for “Market Value to Realized Value”. The ratio is defined as Bitcoin’s market capitalization divided by realized capitalization. Related Reading | SpaceX Has Bitcoin On Its Balance Sheet,....