Subscribe to our newsletter and stay informed

Check out our list of top companies

Check out our carefully compiled lists of the most relevant and impactful companies within their fields.

Check out our list of top unicorns

Read and learn about the biggest companies that various countries have produced, how they made it, and what the future looks like for them.

Bitcoin Selling Signal Revealed: CryptoQuant Analysis

CryptoQuant's latest report, a key on-chain metric signals that the crypto bull run is still in its early stages
May 31, 2024

A recent report from CryptoQuant suggests that the crypto bull market is far from reaching its peak, advising investors to hold onto their Bitcoin for now.

The focus of the analysis was the MVRV (Market Value to Realized Value) indicator, considered a reliable gauge for Bitcoin's price tops and bottoms. According to CryptoQuant's authorized analyst, Tarek On-Chain, MVRV is the ultimate indicator for long-term investors in the current market climate.

MVRV compares Bitcoin's market cap with its realized cap, offering insights into investor profitability. While the market cap represents Bitcoin's total value based on its current market price, the realized cap calculates the value of all coins based on the last time each coin moved on-chain.

Historically, MVRV has mostly stayed above 1.0, signaling an accumulation zone when below 2.0, and a potential market peak when exceeding 3.5. Currently standing at 2.3, Bitcoin's MVRV score suggests that it still has room to grow, potentially surpassing $100k before reaching a peak.

Addressing concerns about the Mt. Gox bankruptcy, CryptoQuant reassured investors that the recent movement of coins on-chain in preparation for creditor repayments does not pose immediate selling pressure. With over 141,000 BTC expected to re-enter circulation, the firm emphasized that these transfers are within the same entity's addresses and are not yet available on the open market.

More about: 

Last related articles

chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram