The MVRV indicator on the ETH chart indicates the beginning of the altseason in the crypto market.#CryptoQuantCEO Ki Yoon Joo writes about this:
“ETH MVRV is growing faster than BTC MVRV, which suggests that the ETH market is heating up relative to its internal fundamentals.
Given the current landscape for ETFs, it may be a good season for ETH alone. Historically, when ETH rises, other altcoins tend to follow.
The indicator identifies trends by calculating a 180-day moving average of the MVRV difference between ETH and BTC over time.”
Some skeptics, of course, will laugh, given the latest dumps on altcoins. But altseason doesn't start with a crowd waiting for it.
