MVRV break through 1.0 level in 216 days

MVRV-break-through-10-level-in-216-days

MVRV, an indicator of whether the current Bitcoin price is undervalued or overvalued, finally broke through 1.0 after 216 days.

MVRV:
The ratio of coins Market Cap to its Realized Cap which indicates whether the price is overvalued or not.
Historically, Values over '3.7' indicated price top and values below '1' indicated price bottom.

Below are the periods that MVRV have stayed below the 1.0 level in the past.

2015: 300 days (bottom)
2019: 134 days (bottom)
2023: 216 days(bottom or deadcat bounce?)