This Bitcoin Indicator Might Suggest Bull Run Is Still On

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,138,173,578,603	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,138,173,578,603

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-2,688.30	-4.44%	57,911.98	57,909.17	57,915.35

Price Change

Price Change %

Current Price

Bid Price

Offer

-2,688.30

-4.44%

57,911.98

57,909.17

57,915.35

High Price	Low Price	Open Price	Prev. Close	52 Week Range
60,785.49	56,500.00	60,649.57	60,600.28	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

60,785.49

56,500.00

60,649.57

60,600.28

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	00:19:17	0.117803	57,911.99	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

00:19:17

0.117803

57,911.99

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,830,727,111.19	31,645.26	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,830,727,111.19

31,645.26

This Bitcoin Indicator Might Suggest Bull Run Is Still On

23/07/2021 8:00pm

NEWSBTC

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, Elon Musk MVRV Ratio = Market Cap ÷ Realized Cap The MVRV ratio is useful for knowing whether the current price is fair or not. If the value is very high, it means Bitcoin’s price might be overvalued, and thus investors would tend to have selling pressure. On the other hand, if the value of the indicator is low, it might suggest that the price of BTC is undervalued, which could result in buying pressure in the market. Related Reading | Bitcoin Volume Continues To See Yearly Lows As Price Struggles To Recover Now, here is how the Bitcoin MVRV ratio chart looks like for the 2013 cycle: The BTC MVRV zones seem to decide bottom and top In the above chart, the blue zone indicates a bottom. The MVRV ratio line only touches this zone during a bear market, while the red box signifies a top. In the middle is another box with the color green. The MVRV ratio seems to touch this zone once after reaching a top in the middle of the bull run, only to go back up again for the true top. Because of this, when the MVRV ratio touches the green zone after a correction, buying Bitcoin might be a good choice. Below is the chart that shows the 2017 cycle as well as the current run. BTC MVRV shows current cycle may not have reached the top yet As is clear from the chart, the 2017 cycle also seemed to have followed a similar pattern where a top happened mid-cycle and then a correction brought it into a green zone. From the looks of it, the current cycle might just be in the middle right now, and a new top might be ahead. Bitcoin Price At the time of writing, BTC’s price is around $k, down % in the last 7 days. Here is a chart showing the trend in the crypto’s price: BTC's price seems to be back on a uptrend | Source: TradngView If the pattern of the MVRV ratio holds true, the bull run may not have reached a top in this run yet. So that the price might be heading up soon. However, this cycle could end up being different nonetheless, and a bear market might be ahead instead. Featured image from Pexels.com, charts from CryptoQuant, TradingView.com

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