HOLD ON TO THE BULL RUN. HISTORY REPEATS ITSELF IN THE CRYPTO SPACE.

BTC price shows $60K ‘potential’ as MVRV metric copies Bitcoin bull cycles

Bitcoin may see rapid 50% gains if MVRV behavior repeats the 2016 and 2020 runs to BTC price all-time highs.

Bitcoin BTC$42,168 is primed for a “surge” as it channels classic bull market signals from the past, the latest research says.

In a post on X on Jan. 30, popular social media commentator Ali eyed history repeating itself on a classic BTC price indicator.

MVRV hints at possible “extreme deviation” to come

Bitcoin may be struggling on lower timeframes in the wake of the spot exchange-traded fund (ETF) releases, but zooming out, the picture remains optimistic.

For Ali, one of the various encouraging signs comes from the market value to realized value (MVRV) metric — a classic tool for measuring what on-chain analytics firm

Glassnode calls Bitcoin’s “fair value.”

When MVRV deviates significantly from the mean, it tends to coincide with bull market tops and bear market bottoms.

Currently, BTC/USD MVRV is focusing on the mean level, crossing it from both above and below in a style that characterized both 2016 and 2020 — just before a run to all-time highs began.

“During past bull markets, Bitcoin rebounded strongly after touching the mean MVRV pricing band,” Ali wrote in accompanying comments.

“We’re witnessing a similar pattern now. With the recent bounce from the mean MVRV at $40,500, there’s potential for $BTC to surge to the 1.0 standard deviation line at $60,000!”

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