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#MVRV Z-Score is a standard deviation that pulls the extremes of #Bitcoin price and #BTC realized value. The higher Z-score = more overvaluation, vice versa. A key on-chain indicator
The Z-score had just moved into "undervalued" zone this week, last seen in Dec 2018 & March 2020
The Z-score had just moved into "undervalued" zone this week, last seen in Dec 2018 & March 2020
@glassnode #Bitcoin % Supply in Profit hit a new cycle low.
Currently BTC supply % in profits rebounded from 50% during the $20k crash, macro bottoms for BTC happened in the past when BTC supply in profits reached 40-50% level.
Getting closer. One more capitulation could do the job.
Currently BTC supply % in profits rebounded from 50% during the $20k crash, macro bottoms for BTC happened in the past when BTC supply in profits reached 40-50% level.
Getting closer. One more capitulation could do the job.
@glassnode #RHODL ratio identifies #Bitcoin macro tops and bottoms. Currently, RHODL ratio is lower than its March 2020 levels, and also very close to the "undervalued" bottom zone last saw in macro bottom in 2018, but not yet.
Coinexpert Onchain Sözlüğü:
Arkadaşlar Paylaştığım verilerin anlamlarını olabildiğince sade ve anlaşılır anlatmaya çalıştım. Lütfen bu ne anlama geliyor sorusunu sormadan önce bu flooda göz atınız. Bulamazsanız elbette yardımcı olurum👇👇
Arkadaşlar Paylaştığım verilerin anlamlarını olabildiğince sade ve anlaşılır anlatmaya çalıştım. Lütfen bu ne anlama geliyor sorusunu sormadan önce bu flooda göz atınız. Bulamazsanız elbette yardımcı olurum👇👇
The following is an analysis of indicators that present facts that the bull market is still going from charts and data. I worked very hard on this for you guys, take some time to go through it. If you enjoyed this, please like and retweet to spread the message! Follow for more ty
1. The Golden 51%-49% Ratio shows a pullback. If the indicator's correct then my thesis that we're still in the bull market stands until the start of Oct. This indicator will be invalid if the thesis is wrong. This indicator has not failed. Yet. Indicators work until they don't.
2. Bitcoin search has not topped 2017 yet. My conclusion is that covid lockdowns have now made it hard for people to communicate (those not in the loop online and only watching Netflix, naruto, gaming, working at home etc) Normal gossip will take the frenzy up a notch for normies
1/10-Going through the 2nd week of the biggest corrections of this cycle (~ 50%), the ultimate questions in market are,
-Whether the cycle is over?
-How are the Exchange Flow conditions?
-What is the picture that on-chain metrics are giving about market in long-term?
🧵🔽
-Whether the cycle is over?
-How are the Exchange Flow conditions?
-What is the picture that on-chain metrics are giving about market in long-term?
🧵🔽
2/10- All-Exchanges Reserve has been declining since the beginning of this bull market. This trend was then upward on April 24th after prices dropped 64K > 50K [1A] = on-chain bearish sign.
