Bitcoin MVRV Momentum Continues to Maintain Historical Highs

What does MVRV mean?

The ratio between the market price of Bitcoin and the price at which it was actually sold

When this ratio is greater than 1, it indicates that the macro market is in an upward trend.

If this ratio is lower than 1, it means that the macro market is declining.

Currently, this ratio is above 1, so the market is still in a relatively large profit range.

At the same time, the trend of MVRV above 1 has continued for 11 months, indicating that the upward momentum is still very strong. Moreover, the one-year moving average of the data just touches the 1.5 times node at the beginning of the bull market upward cycle from 2020 to 2021. If history will repeat itself, according to this trend, the momentum of MVRV may usher in a new trend in 6-9 months. A round of bull market, calculated according to the time node, should be the fourth quarter of 2024! !! !

Therefore, the mid-term price increase of Bitcoin is still very obvious! (There is a possibility of a correction in the short term)