Are we approaching a new bullrun in #Bitcoin? The last time the 30-day moving average of the short-term MVRV crossed above the one level (indicating these users were no longer at a loss), we saw a price increase of over 100%. Will we repeat this pattern?
Earlier in August, we witnessed an attempt by this metric to reverse, but it failed to solidify. We believe that if the price continues to show strength, we could see a similar scenario to what happened at the end of 2023.
#Crypto #BTC
8October 15, 2024 260
