Bitcoin indicator that nailed all bottoms predicts $15.6K BTC price floor

Bitcoins (BTC) must be lowered before the macro can be lowered, one of the market’s most accurate indicators.

Data from sources, including chain analysis company Glassnode, indicates that the Bitcoin MVRV-Z score is almost – but not very – indicative of price volatility.

MVRV-Z point inch to macro bottom

In the ongoing debate over whether BTC / USD will move above the current macro minimum of $ 17,600, new data suggests that the market could easily fall.

such as Mentioned At Philphfilb, the founder of Marketing Suit Decentrader, the MVRV-Z point is now in the Old Green Zone, but has not reached the level of inflation in the past.

MVRV-Z is a measure of how high or low the value of a bitcoin site is based on the so-called “fair value”.

It uses market capitalization and price information with standard deviation to create one of the most efficient Bitcoin and forecasting tools.

MVRV-Z captures the top and bottom of each macro on its BTC / USD, and notes the two-week-old source of information LookIntoBitcoin.

The measure went just below the Green Zone, the last in March 2020, but more negative pressure will result in repetitive performance.

“This chart is * one * for me,” Filbfilb commented on recent readings.

“Normally we go down MC

Bitcoin MVRV-Z score chart. Source Glassnode

He received a $ 16,000 down zone towing

The $ 15,600 Bitcoin drop is related to various existing forecasts.

Related Bitcoin sees ‘long bear market’ says BTC trader traded at $ 19,000

In an update for Twitter followers over the weekend, the popular account CryptoBullet is one of the many important support zones needed to view that area.

$ 16,000, verified, also shows an average difference from Bitcoin’s 50-month moving average.

Bitcoin’s relative strength index or RSI is already on it. The lowest everAnother indication that the market is a high-end retailer near $ 20,000.

The opinions and opinions expressed herein are those of the author only and do not necessarily reflect the views of Every investment and business venture involves risk, you have to do your own research when making a decision.