ShayanMarkets
Bitcoin Is Under-valued!
✔️The MVRV is the ratio of a coin’s Market Cap to its Realized Cap, which determines whether the price is overvalued or not. This on-chain indicator may be the most useful for mapping the current market situation. ✔️The market has recently experienced a steep crash and retested its prior all-time high. As a result, the MVRV metric has plummeted to below 1 level for the first time after the Covid crash and the massive capitulation while the market’s momentum is not encouraging. Considering the MVRV metric, Bitcoin is undervalued at these price levels. ✔️The market is currently at its late bear market stage and a new bullish cycle will be expected by the time this capitulation phase among retailers and long-term holders comes to an end.