Comparing the trend of Bitcoin MVRV in the first two rounds, we can find that the corresponding trend of each round of market sentiment feedback will be very similar. The focus is as follows: First, it is obviously a decline before the new round of peak. Although this round has prolonged this process, it is obvious that the bull market is far from over. Second, compared with the same period, a new round of highs will be reached in early March this year. It is expected that the three-day line will rise quickly after the bottoming out, and there will not be too long for low-level fluctuations. According to the calculation that it takes 36 days for the increase of 50%, the bottoming process will end at the end of January, and then the surge will start directly. Third, the three months of 456 are all sluggish periods. This also further confirms the next trend from the perspective of insufficient liquidity. It will bottom out to the lower track of the weekly line in June and make the final adjustment. Fourth, the final peak will be ushered in at the end of September and October, accompanied by a three-month rise. According to the time process analysis, it is probably the end of doubling, so the target price of the bull top is above 150,000, and the final surprise and pin insertion does not rule out 180,000. Above! $BTC