{"id":468014,"date":"2021-07-23T19:00:59","date_gmt":"2021-07-23T19:00:59","guid":{"rendered":"https:\/\/wncen.com\/?p=468014"},"modified":"2024-06-11T13:57:16","modified_gmt":"2024-06-11T13:57:16","slug":"bitcoin-indicator-suggest-bull-run","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-indicator-suggest-bull-run\/","title":{"rendered":"This Bitcoin Indicator Might Suggest Bull Run Is Still On"},"content":{"rendered":"<p>The MVRV ratio, a Bitcoin indicator, might suggest that the current bull run isn&#8217;t over, and the price of the crypto is yet to peak.<\/p>\n<h2>The MVRV Ratio Indicates The Cycle Isn&#8217;t Over Yet<\/h2>\n<p>As pointed out by a Crypto Quant <a href=\"https:\/\/cryptoquant.com\/quicktake\/60fa6def6a4c061fdd28eda3-We-are-still-in-the-bull-market-MVRV-2013-Cycle\" rel=\"nofollow\">post<\/a>, past cycles seem to follow a specific pattern on the MVRV charts. This might suggest that the current bull run hasn&#8217;t peaked yet.<\/p>\n<p>MVRV stands for &#8220;Market Value to Realized Value&#8221;. The ratio is defined as Bitcoin&#8217;s market capitalization divided by realized capitalization.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/news\/bitcoin\/spacex-owns-bitcoin\/\">SpaceX Has Bitcoin On Its Balance Sheet, Elon Musk<\/a><\/strong><\/em><\/p>\n<blockquote><p>MVRV Ratio = Market Cap \u00f7 Realized Cap<\/p><\/blockquote>\n<p>The MVRV ratio is useful for knowing whether the current price is fair or not. If the value is very high, it means Bitcoin&#8217;s price might be overvalued, and thus investors would tend to have selling pressure.<\/p>\n<p>On the other hand, if the value of the indicator is low, it might suggest that the price of BTC is undervalued, which could result in buying pressure in the market.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-volume-see-yearly\/\">Bitcoin Volume Continues To See Yearly Lows As Price Struggles To Recover<\/a><\/strong><\/em><\/p>\n<p>Now, here is how the Bitcoin MVRV ratio chart looks like for the 2013 cycle:<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-468023 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/chart-34.png?resize=460%2C174\" alt=\"Bitcoin MVRV 2013 Cycle\" width=\"460\" height=\"174\"><\/p>\n<pre style=\"text-align: center\">The BTC MVRV zones seem to decide bottom and top<\/pre>\n<p>In the above chart, the blue zone indicates a bottom. The MVRV ratio line only touches this zone during a bear market, while the red box signifies a top.<\/p>\n<p>In the middle is another box with the color green. The MVRV ratio seems to touch this zone once after reaching a top in the middle of the <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-to-100k-bull-cycle-early-days\/\">bull run<\/a>, only to go back up again for the true top.<\/p>\n<p>Because of this, when the MVRV ratio touches the green zone after a correction, buying Bitcoin might be a good choice.<\/p>\n<p>Below is the chart that shows the 2017 cycle as well as the current run.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-468030 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/chart-35.png?resize=460%2C159\" alt=\"Bitcoin MVRV current\" width=\"460\" height=\"159\"><\/p>\n<pre style=\"text-align: center\">BTC MVRV shows current cycle may not have reached the top yet<\/pre>\n<p>As is clear from the chart, the 2017 cycle also seemed to have followed a similar pattern where a top happened mid-cycle and then a correction brought it into a green zone.<\/p>\n<p>From the looks of it, the current cycle might just be in the middle right now, and a new top might be ahead.<\/p>\n<h2>Bitcoin Price<\/h2>\n<p>At the time of writing, <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-trim-losses-32k\/\">BTC&#8217;s price<\/a> is around $32.3k, up almost 2% in the last 7 days. Here is a chart showing the trend in the crypto&#8217;s price:<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-468034 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/Bitcoin-Price-Chart.png?resize=460%2C241\" alt=\"Bitcoin Price Chart\" width=\"460\" height=\"241\"><\/p>\n<pre style=\"text-align: center\">BTC's price seems to be back on a uptrend | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" rel=\"nofollow\">TradngView<\/a><\/pre>\n<p>If the pattern of the MVRV ratio holds true, the bull run may not have reached a top in this run yet. So that the price might be heading up soon. However, this cycle could end up being different nonetheless, and a <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-miners-selling-bear-market\/\">bear market<\/a> might be ahead instead.<\/p>\n<pre>Featured image from Pexels.com, charts from <a href=\"https:\/\/cryptoquant.com\/prochart\/0HOz7LBrPD73iWL\" rel=\"nofollow\">CryptoQuant<\/a>, TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>The MVRV ratio, a Bitcoin indicator, might suggest that the current bull run isn&#8217;t over, and the price of the crypto is yet to peak. The MVRV Ratio Indicates The Cycle Isn&#8217;t Over Yet As pointed out by a Crypto Quant post, past cycles seem to follow a specific pattern on the MVRV charts. This might suggest that the current bull run hasn&#8217;t peaked yet. MVRV stands for &#8220;Market Value to Realized Value&#8221;. The ratio is defined as Bitcoin&#8217;s market capitalization divided by realized capitalization. Related Reading | SpaceX Has Bitcoin On Its Balance Sheet, Elon Musk MVRV Ratio = Market Cap \u00f7 Realized Cap The MVRV ratio is useful for knowing whether the current price is fair or not. If the value is very high, it means Bitcoin&#8217;s price might be overvalued, and thus investors would tend to have selling pressure. On the other hand, if the value of the indicator is low, it might suggest that the price of BTC is undervalued, which could result in buying pressure in the market. Related Reading | Bitcoin Volume Continues To See Yearly Lows As Price Struggles To Recover Now, here is how the Bitcoin MVRV ratio chart looks like for the 2013 cycle: The BTC MVRV zones seem to decide bottom and top In the above chart, the blue zone indicates a bottom. The MVRV ratio line only touches this zone during a bear market, while the red box signifies a top. In the middle is another box with the color green. The MVRV ratio seems to touch this zone once after reaching a top in the middle of the bull run, only to go back up again for the true top. Because of this, when the MVRV ratio touches the green zone after a correction, buying Bitcoin might be a good choice. Below is the chart that shows the 2017 cycle as well as the current run. BTC MVRV shows current cycle may not have reached the top yet As is clear from the chart, the 2017 cycle also seemed to have followed a similar pattern where a top happened mid-cycle and then a correction brought it into a green zone. From the looks of it, the current cycle might just be in the middle right now, and a new top might be ahead. Bitcoin Price At the time of writing, BTC&#8217;s price is around $32.3k, up almost 2% in the last 7 days. Here is a chart showing the trend in the crypto&#8217;s price: BTC&#8217;s price seems to be back on a uptrend | Source: TradngView If the pattern of the MVRV ratio holds true, the bull run may not have reached a top in this run yet. So that the price might be heading up soon. However, this cycle could end up being different nonetheless, and a bear market might be ahead instead. Featured image from Pexels.com, charts from CryptoQuant, TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":468039,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,11614,1119,1144],"class_list":["post-468014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bull","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\n<title>This Bitcoin Indicator Might Suggest Bull Run Is Still On<\/title>\n<meta name=\"description\" content=\"The MVRV ratio, a Bitcoin indicator, might suggest that the current bull run isn&#039;t over, and the price of the crypto is yet to peak. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"This Bitcoin Indicator Might Suggest Bull Run Is Still On","url":"http:\/\/wncen.com\/news\/bitcoin-indicator-suggest-bull-run\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-indicator-suggest-bull-run\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/pexels-james-frid-306036-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/pexels-james-frid-306036-scaled.jpg?fit=2560%2C1707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bull","btc","btcusd"],"dateCreated":"2021-07-23T19:00:59Z","datePublished":"2021-07-23T19:00:59Z","dateModified":"2024-06-11T13:57:16Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"This Bitcoin Indicator Might Suggest Bull Run Is Still On\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-indicator-suggest-bull-run\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-indicator-suggest-bull-run\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/pexels-james-frid-306036-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/pexels-james-frid-306036-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bull\",\"btc\",\"btcusd\"],\"dateCreated\":\"2021-07-23T19:00:59Z\",\"datePublished\":\"2021-07-23T19:00:59Z\",\"dateModified\":\"2024-06-11T13:57:16Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/pexels-james-frid-306036-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/468014"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=468014"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/468014\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/468039"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=468014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=468014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=468014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}