This Blockchain Indicator Might Show Bitcoin Rally Has Legs
Bitcoin’s price has nearly doubled this year, but the rally could have room to run. That’s based on a new report by Coin Metrics, a cryptocurrency data firm, which shows bitcoin (BTC) is not at an extreme relative to the previous market top in 2018.
The MVRV ratio is a measure of bitcoin’s market value relative to its realized value. The gauge represents the difference between the cryptocurrency’s current price and the average price at which bitcoins were acquired. When it reaches an extreme, the thinking goes, traders might be inclined to take profits, creating sell pressure that could push price down.
- The near 20% bitcoin sell-off from an all-time-high around $60,000 last week triggered a decline in the MVRV ratio to 0.88.
- “Historically, the periods that MVRV has dropped below 1.0 have been some of the best times to invest in BTC,” according to Coin Metrics.
- The MVRV indicator reached an extreme around 4 in 2018, and near 6 in 2014, just prior to the start of bear markets.
Crypto Long & Short: Bitcoin’s Relationship With Gold Is More Complicated Than It Looks
Earlier this week, JPMorgan published a global markets strategy note that points out that money has flowed out of gold and into bitcoin since October, and predicts that this trend will continue over the medium to longer term. The easy conclusion is that investors are finally understanding that bitcoin (BTC, -0.62%) is a superior future store of value to gold, and are rotating out of one and into the other. I’m not convinced that’s what we’re seeing. I agree with the analysts, though, that inflows into bitcoin will continue to increase, but not because investors are changing…12/14/2020
Throwing millions of dollars in airdrops, DEFI rookie BlackHoleDAO gave much more than its predecessors Uniswap!
We all know that miracles are not lacking in the entire cryptocurrency market. The returns of dozens and hundreds of times are often staged around us. We are always impressed by the luck and investment ability of these friends. In addition, there is a group of friends that we envy even more, relying on their diligent and skillful investment ability, they have quietly added various valuable crypto assets to their wallets. From Uniswap in 2020, 1inch, to dydx, ENS in 2021, etc., these projects have made many people rich passively….03/08/2022
FINTOCH Advice: Principle is Key in a Bear Market
DeFi in its bull run used to generate over one thousand percent of Annual Percentage Yield. As bear market seeps in and goes deeper, the crowd is way over the frenzy around high APY. #Real yield as a new DeFi narrative has been getting people’s attention. DeFi users have been leaning towards protocols whose yield is returned not in its native token but in mainstream assets like ETH or stablecoins. As the sector develop and mature, DeFi is no longer about Ponzi and hypes. The gap between user’s knowledge and…12/09/2022
Opportunities and Challenges of Amazon Cross-border E-Commerce Development in the Context of the Epidemic
In 2020-2021, the new crown epidemic broke out one after another around the world, and in order to prevent the spread of the epidemic, many governments have issued home quarantine measures. This outbreak suppressed offline consumer demand in the global market, but at the same time also prompted further release of online consumer demand, making online shopping the mainstream shopping method and ushering in a new development opportunity for cross-border e-commerce. At the same time, affected by the global financial crisis, many countries in the entry and exit, logistics, customs…01/12/2022
Coinbetter: The UST death spiral is approaching, where is the future of algorithmic stablecoins?
On May 10, Bitcoin accelerated its downward trend, falling below $30,000 at one point, and the lowest dropped to $29,767, a new low since July 19, 2021. As of writing, the price has rebounded, and the current price is $31,486.43. In addition to the market, the algorithmic stable currency UST has won the attention of the market. On May 10, UST was seriously de-anchored and once fell to 0.6090 USDT; according to the Coinbetter data, it is now reported at 0.7968 USDT, with a 24H decline of 12.2%….05/11/2022
Lingose will soon be listed on OKX, Bybit and Bitget exchanges
The simultaneous listing of Lingose on OKX, Bybit and Bitget exchanges has caused heated discussions in the circle. While some people are actively participating in the ecological construction of lingose, some are still thinking, why is it lingose? This article will analyze Lingose in detail, so that more people can understand the project in depth. First of all we have to know what does Lingose do? Lingose aims to establish a Game ID system based on blockchain data, which provides qualification proof by capturing users’ on-chain behavior. Every step…09/15/2022
Money Reimagined: Letter to President Biden
President Biden needs to reform the global financial system and avoid a 1930s-style depression. Digital currencies can help. Welcome to this week’s Money Reimagined, coming to you two days into a new U.S. presidency. Already, with various executive orders and a host of cabinet and agency nominee names emerging, President Joe Biden has fostered the palpable sense of a slate being cleaned. As for what it means for crypto, the turnover in the White House gave Sheila Warren and me reason to invite Kristin Smith of the Blockchain Association and…01/23/2021
Football Metaverse to Launch with 100% Payback to NFT Holders
World Cup 2022 is less than a month away and we are sure that you are as pumped up as us for this special event! Covid have hit us badly for the past few years and we are sure that World Cup 2022 will bring back the joy and festive mood in all of us! To celebrate WC2022, FMEX has previously announced the collaboration with Borussia Dortmund (BVB) on the release of an exclusive set of NFTs based on their soccer players. The official launch and mint date is set…10/21/2022
NFT+GameFi+Metaverse, the first space-based SLG chain game
Once young, we also looked up at the stars, in the face of the vastness of the Milky Way, into meditation and fantasy. And we are looking forward to travel and experience ourselves one day in the future. With the advent of the metaverse, this idea may become a reality. Recently, Crypto Fans Meeting, a one-stop digital collectibles trading platform, announced the launch of its first metavesa game to run on blockchain: “Murphy”. Murphy built a vast virtual space world on BSC. Murphy aims to combine blockchain, NFT, metacosm…10/21/2021
The new crown epidemic has given rise to a new consumer model Can it continue to drive Amazon’s performance growth?
The domestic epidemic is basically coming to an end, but the foreign epidemic is escalating. Things have been bought up inside supermarkets, which is especially applicable to the mask products of the moment. On the one hand, very few big-selling masks are sold by the day in tens of thousands, and on the other hand, a large number of accounts are blocked because of selling high-priced masks. The development of the epidemic touches everyone’s nerves and concerns the future of every cross-border person. In order to reduce the impact of…01/29/2021