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.
Earlier this week, JPMorgan published a global markets strategy note that points out that money has flowed out of gold and into bitcoin since October, and predicts that this trend will continue over the medium to longer term. The easy conclusion is that investors are finally understanding that bitcoin (BTC, -0.62%) is a superior future store of value to gold, and are rotating out of one and into the other. I’m not convinced that’s what we’re seeing. I agree with the analysts, though, that inflows into bitcoin will continue to increase, but not because investors are changing…12/14/2020
Koala Arithmetic Mining Platform and Cryptouniverse reached a strategic cooperation to increase the layout in Russia
On June 12, 2021, Koala Arithmetic Mining Platform announced that it has reached a global strategic cooperation with Cryptouniverse, the largest mining farm in Russia. The two parties have carried out in-depth cooperation on services such as technology, operation and maintenance, and rates, and jointly build a global encrypted digital asset mining service ecosystem. Layout Russia. Cryptouniverse has been operating in Russia since 2020. It is the largest cryptocurrency mining farm in Russia. It was established in Leningrad, with an energy capacity of 20 MW, a large number of mining…06/12/2021
HyperNation Global Virtual Conference: A Critical Juncture in the Future of Web 3.0, Metaverse and Beyond
HyperNation, the first virtual nation with its unique stand on human rights, justice, and personal sovereignty has been making waves since its inception in the metaverse. That ripple is bound to expand with the next global online conference starting at 1000 EST on August 22, 2022, where further updates, news, and event giveaways will take center stage. The much-awaited conference will attract millions of viewers from across the globe, a feat achieved in the previous conference. The audience can expect new, novel and innovative functions to be announced at the…08/19/2022
On July 14, 2022, CoinW officially announced that it is the official supporter of EAFF E-1 Championship 2022, and the first crypto venture capital in the world to officially cooperate with the East Asian Cup. While demonstrating the competitive spirit of soccer, CoinW will also leverage the tournament to solidify its presence in the East Asian and Asian market. It will also contribute to the development of blockchain in Asia and globally, by providing diversified products, quality services and innovative technologies. The East Asian Cup has gained wide influence and popularity in…07/15/2022
Get ready for the Meta Soldier Recruitment — the verrrry 1st OG event for MetaSecond.AI! Buckle up buttercups, the hype train is leaving the station! Calling all brave-hearts and adventure-seekers, this is your chance to become a Meta Soldier — the most badass role in our community! Be an early bird and join MetaSecond.AI to help build and protect our metaverse. This ain’t no soldier boy-band, only the strong survive! 💪 Ready to catch this neuro-train to fame and fortune? Enlist now before spots run out! Hustle hustle, no time…07/24/2023
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
The new crown pneumonia epidemic is spreading globally and the global economy has been shaken. The International Monetary Fund predicts that the global economy will decline by 4% in 2022, and income will evaporate by about 3.4 trillion US dollars. This is the worst economic recession since the Great Depression in the 1930s. Under the blockade restrictions, social distancing and other measures adopted by various countries in response to the epidemic, e-commerce companies have grown against the trend; in 2021, global online retail sales will reach 3.563 trillion US…Uncategorized 12/09/2022
How to be extra rich with your existing fund in the Metaverse? Can your blockchain assets grow passive rewards for you to reap? The HyperNation has its answer for you to leverage your crypto assets and unlock its boundless potential efficiently. Your cryptocurrency holdings mean a lot more from now on. Generally, there are two main methods to roll your funds in the crypto world: liquidity mining and yield farming. Among the two, the former is the predecessor of the latter. And many of our devoted fans of The HyperNation…Uncategorized 12/01/2022
Double Ace (DAA) is a Fintech company that utilises the power of blockchain, AI, and Big Data to provide instant online financial services to individuals. The service DAA provides encompasses consumer finance, personal credit, micro loan, crypto loan, and more. DAA has introduced its all-in-one super App called Ace Wallet, which allows users to deposit cryptocurrencies to receive interest much like that of bank deposits, but with a way higher interest rate. DAA is able to provide its depositors with cryptocurrency interest due to their arbitrage trading desk, which is…02/18/2021
NEWXX will jointly release NFT with a well-known design DAO.Contribute to the ecologically sound development
According to the official news, NEWXX Foundation will jointly issue NFT with famous design DAO in limited quantity, and users who get NXX-NFT can collect, auction or pledge NFT to get more NXX revenue. NEWXX Foundation and its partners around the world have been adhering to the core values of value investment and long-term and robust development strategy. In the period of crypto asset downturn and turbulence, the platform operates a robust and unique non-loss mining mechanism through its core technology to empower more users to maintain their mainstream crypto…07/05/2022