Bitcoin’s valuation metric hints at a ‘possible bottom’ forming: Analysis

Bitcoin’s MVRV ratio indicated that BTC was forming a potential local bottom, suggesting that the price can recover due to seller exhaustion.

Key takeaways:

Bitcoin's MVRV ratio dropping to the 1.8-2.0 range signals a local bottom, historically preceding price rallies.

Distress-driven selling may clear leverage, setting the stage for a market reversal, according to analysis. 

Read more

You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.