Bitcoin not yet as overheated as it was during prior bull markets, despite reaching yearly highs
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
Not only are cyclical patterns aligning for Bitcoin, but short-term activity is also heating up; yet, the Bitcoin market value to realized value ratio indicates that Bitcoin is not yet as overheated as it was during prior bull markets., Bitcoin bull markets have peaked at 300%+ MVRV, which, when compared to the current 150% figure, indicates that the bull market has room to run even farther.
The recent high of $35,000 is the next resistance level for Bitcoin, and if this level is broken, the next point might be around $38,000–$39,000, where 333,000 BTC was purchased.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin (BTC) Price Prediction: How High Can BTC Go if ETF is Approved?Crypto Blog
Read more »
Bitcoin (BTC) Price Rally to End With a Spot Bitcoin ETF Approval: Peter SchiffCrypto Blog
Read more »
Redefining Bitcoin Alternatives with Bitcoin Spark and Bitcoin SVCrypto Blog
Read more »
First Bitcoin ETF trades $1.5B as GBTC 'discount' echoes $69K BTC priceBitcoin ETF activity surged last week in step with a BTC price recovery.
Read more »
Two Probable Scenarios for Bitcoin in the Coming Days: BTC Price AnalysisCrypto Blog
Read more »
We Asked ChatGPT if Bitcoin (BTC) Price Will Reach $1 Million in 2024Crypto Blog
Read more »