The on-chain analytics firm Glassnode has revealed the level Bitcoin would have to rise to if it has to reach the historical top zone in this pricing model.
Bitcoin Hasn’t Surpassed Last MVRV Pricing Band Yet
In a new post on X, Glassnode has talked about the extreme euphoria threshold of the Bitcoin Market Value to Realized Value (MVRV) Pricing Bands. The MVRV Pricing Bands is a pricing model for the cryptocurrency that’s based on the MVRV Ratio.
The “MVRV Ratio” is a popular on-chain indicator that keeps track of how the value held by the Bitcoin investors (that is, the market cap) compares against the value that they initially put in (the realized cap). When the metric is greater than 1, the investors are holding more value than their initial investment, meaning that they are in a state of net profit. On the other hand, it being under the threshold suggests the market as a whole is underwater.
Historically, the holders being in too much profit has often signaled
We współpracy z: https://www.newsbtc.com/bitcoin-news/bitcoin-extreme-euphoria-phase-glassnode-reveals/
