36 days ago • Posted by William Ramstein
Coin Metrics suggests Bitcoin still has room to climb
The MVRV ratio measures bitcoin's market value relative to its relative value. It represents the difference between the cryptocurrency's current price and the average price at which bitcoins were first acquired. When it reaches an extreme, traders could be teased to take in profits thus creating sell pressure that could drown the price. The report states that we are not at a time where such extreme is observed.
Source: Coin Metrics