{"id":590661,"date":"2024-02-29T13:00:41","date_gmt":"2024-02-29T13:00:41","guid":{"rendered":"https:\/\/wncen.com\/?p=590661"},"modified":"2024-06-11T08:13:46","modified_gmt":"2024-06-11T08:13:46","slug":"bitcoin-mvrv-levels-parabolic-bull-run-2020","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-mvrv-levels-parabolic-bull-run-2020\/","title":{"rendered":"Bitcoin MVRV Hits Levels That Led To Parabolic Bull Run In 2020"},"content":{"rendered":"

On-chain data shows the Bitcoin MVRV ratio is currently at the same high levels as those that led to the parabolic bull run back in 2020.<\/p>\n

Bitcoin MVRV Ratio Has Shot Up As Latest Rally Has Occurred<\/h2>\n

As pointed out by CryptoQuant founder and CEO Ki Young Ju in a post<\/a> on X, the MVRV ratio has just hit a value of 2.5. The “Market Value to Realized Value (MVRV) ratio<\/a>” is a popular on-chain indicator that keeps track of the ratio between the Bitcoin market cap and the realized cap.<\/p>\n

The “realized cap<\/a>” here refers to a capitalization model for BTC that assumes that the real value of any token in circulation is not its current spot price (as the market cap takes it to be), but rather the value at which the coin was last transferred on the network.<\/p>\n

Related Reading: TRON Hits 95 Million Addresses Milestone, Will This Help Price?<\/a><\/div>\n

The previous transaction for any coin may be considered the last time it changed hands, which implies that the price at the time would be its current cost basis. As such, the realized cap adds up the cost basis of every token in circulation.<\/p>\n

This means that the realized cap essentially keeps track of the total amount of capital that the investors have used to purchase their Bitcoin. Since the MVRV ratio compares the market cap (that is, the value the investors are holding right now) against this initial investment, its value can tell us about the amount of profit or loss the investors as a whole are currently carrying.<\/p>\n

Now, here is a chart that shows the trend in the Bitcoin MVRV ratio over the history of the cryptocurrency:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the value of the metric has been shooting up in recent days | Source: @ki_young_ju on X<\/a><\/pre>\n
As is visible in the graph, the Bitcoin MVRV ratio has rapidly climbed up as the asset’s price has gone through its latest rally. In this surge, the metric has managed to exceed the 2.5 level.<\/p>\n
When the ratio is greater than 1, it means that the market cap is higher than the realized cap right now, and thus, the overall market is holding its coins at some profit. A value of 2.5 implies the average wallet is currently carrying gains of 150%.<\/p>\n
Related Reading: Cardano (ADA) Among Only Coins Seeing Loss-Taking: What It Means<\/a><\/div>\n
“In Nov 2020, MVRV was 2.5 at $18K, preceding the all-time high and parabolic bull run,” explains Ju. Back in that bull run, the peak of the first half of 2021 wasn’t hit until the MVRV ratio crossed the 3.7 mark, just like the two bull runs preceding it.<\/p>\n
The top in November 2021<\/a>, however, didn’t follow this pattern, as it formed close to the 3.0 level. It now remains to be seen which path Bitcoin would take in its current rally, if it is at all similar to either of these.<\/p>\n
BTC Price<\/h2>\n
Following Bitcoin’s impressive 22% rally over the past week, the asset’s price is now trading around the $62,800 level, not very far from setting a new all-time high now.<\/p>\n
\"Bitcoin<\/p>\n
The price of the asset has gone through rapid growth over the past few days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, CryptoQuant.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows the Bitcoin MVRV ratio is currently at the same high levels as those that led to the parabolic bull run back in 2020. Bitcoin MVRV Ratio Has Shot Up As Latest Rally Has Occurred As pointed out by CryptoQuant founder and CEO Ki Young Ju in a post on X, the MVRV ratio has just hit a value of 2.5. The “Market Value to Realized Value (MVRV) ratio” is a popular on-chain indicator that keeps track of the ratio between the Bitcoin market cap and the realized cap. The “realized cap” here refers to a capitalization model for BTC that assumes that the real value of any token in circulation is not its current spot price (as the market cap takes it to be), but rather the value at which the coin was last transferred on the network. Related Reading: TRON Hits 95 Million Addresses Milestone, Will This Help Price? The previous transaction for any coin may be considered the last time it changed hands, which implies that the price at the time would be its current cost basis. As such, the realized cap adds up the cost basis of every token in circulation. This means that the realized cap essentially keeps track of the total amount of capital that the investors have used to purchase their Bitcoin. Since the MVRV ratio compares the market cap (that is, the value the investors are holding right now) against this initial investment, its value can tell us about the amount of profit or loss the investors as a whole are currently carrying. Now, here is a chart that shows the trend in the Bitcoin MVRV ratio over the history of the cryptocurrency: Looks like the value of the metric has been shooting up in recent days | Source: @ki_young_ju on X As is visible in the graph, the Bitcoin MVRV ratio has rapidly climbed up as the asset’s price has gone through its latest rally. In this surge, the metric has managed to exceed the 2.5 level. When the ratio is greater than 1, it means that the market cap is higher than the realized cap right now, and thus, the overall market is holding its coins at some profit. A value of 2.5 implies the average wallet is currently carrying gains of 150%. Related Reading: Cardano (ADA) Among Only Coins Seeing Loss-Taking: What It Means “In Nov 2020, MVRV was 2.5 at $18K, preceding the all-time high and parabolic bull run,” explains Ju. Back in that bull run, the peak of the first half of 2021 wasn’t hit until the MVRV ratio crossed the 3.7 mark, just like the two bull runs preceding it. The top in November 2021, however, didn’t follow this pattern, as it formed close to the 3.0 level. It now remains to be seen which path Bitcoin would take in its current rally, if it is at all similar to either of these. BTC Price Following Bitcoin’s impressive 22% rally over the past week, the asset’s price is now trading around the $62,800 level, not very far from setting a new all-time high now. The price of the asset has gone through rapid growth over the past few days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, CryptoQuant.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":590711,"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":[428,85533,11680,84723,86686,91764,6481,1119,1144],"class_list":["post-590661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bull-run","tag-bitcoin-bullish","tag-bitcoin-mvrv","tag-bitcoin-mvrv-ratio","tag-bitcoin-parabolic-bull-run","tag-bitcoin-rally","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin MVRV Hits Levels That Led To Parabolic Bull Run In 2020<\/title>\n<meta name=\"description\" content=\"On-chain data shows the 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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":"Bitcoin MVRV Hits Levels That Led To Parabolic Bull Run In 2020","url":"http:\/\/wncen.com\/news\/bitcoin-mvrv-levels-parabolic-bull-run-2020\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-mvrv-levels-parabolic-bull-run-2020\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/kanchanara-nUgrJLHM8Rk-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/kanchanara-nUgrJLHM8Rk-unsplash.jpg?fit=6048%2C4024"},"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 run","bitcoin bullish","bitcoin mvrv","bitcoin mvrv ratio","bitcoin parabolic bull run","bitcoin rally","btc","btcusd"],"dateCreated":"2024-02-29T13:00:41Z","datePublished":"2024-02-29T13:00:41Z","dateModified":"2024-06-11T08:13:46Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin MVRV Hits Levels That Led To Parabolic Bull Run In 2020\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-mvrv-levels-parabolic-bull-run-2020\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-mvrv-levels-parabolic-bull-run-2020\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/kanchanara-nUgrJLHM8Rk-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/kanchanara-nUgrJLHM8Rk-unsplash.jpg?fit=6048%2C4024\"},\"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 run\",\"bitcoin bullish\",\"bitcoin mvrv\",\"bitcoin mvrv ratio\",\"bitcoin parabolic bull run\",\"bitcoin rally\",\"btc\",\"btcusd\"],\"dateCreated\":\"2024-02-29T13:00:41Z\",\"datePublished\":\"2024-02-29T13:00:41Z\",\"dateModified\":\"2024-06-11T08:13:46Z\"}<\/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\/2024\/02\/kanchanara-nUgrJLHM8Rk-unsplash.jpg?fit=6048%2C4024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/590661"}],"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=590661"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/590661\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/590711"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=590661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=590661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=590661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}