By referring to whether the price of Bitcoin is overvalued or undervalued, you can predict whether Bitcoin has reached its peak in this bull market.

In past bull markets, MVRV peaked at 4.83 and 3.97, and currently has only reached 2.78. It has still not entered the overvalued zone and further rises can be expected.

Bitcoin has experienced a sufficient sideways and adjustment period for more than two months after reaching the overheated section (yellow) in March 2024, so it is highly likely that a cool rise will occur as early as June.

Written by Crypto Dan