Bit coin

in bit •  5 months ago 

6VvuHGsoU2QBt9MXeXNdDuyd4Bmd63j7zJymDTWgdcJjo1LNzZQQZKbjFGvJrY6e1YReY65dXjcf7cS18rwq1jrUY7XRKiH9zJc4VfuoF1CBX2XVRGhJPwRiGCn5xA.jpeg

Source: Bitcoin Magazine Pro
I expected when the MVRV Z Score breaks 2.0, it's possible to pull back again. It's realized 😂 Now, the MVRV Z Score is 1.75.

As I previously explained it, the MVRV Z Score is one of the most reliable BTC(Bitcoin) On-chain data. Take a look at the pattern on the chart.

If there's no recession for the following months, the MVRV Z Score will follow the 1st and 2nd cycle patterns, which means the MVRV Z Score will not likely plunge around 0.
Furthermore, as I previously said the trend, each cycles' tops has been decreasing. Therefore, I'd say this cycle top of the MVRV Z Score will be aroud 6, and the market cycle will end.

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