Bitcoin MVRV RATIO has been trending above the Bitcoin price for the last year. Although Bitcoin was on the rise during this period, the data told us that these prices were relatively expensive for investment.
Although the BTC price was stuck in the 60,000-65,000 region with the correction movement after ATH and showed a relatively horizontal movement, the MVRV value experienced a correction of approximately 30% from the 3rd region to the 2nd region and took a position below the BTC price curve.
This situation can be interpreted as we are in the buying zone for medium and long-term investors. Data tells us loudly: "Bitcoin is cheap now!" says.
Written by KriptoBaykusV2