Let's take a look at MVRV Z Score. I think the MVRV Z Score is one of most reliable BTC(Bitcoin) On-chain data.
You can check when each cycles broke 2.0 of MVRV Z Score again, BTC price entered the parabolic zone, and it had risen until 6.0.
The 1st reaching 6.0 doesn't mean the end of cycles. It has occurred huge price corrections or a small price correction and consolidation.
Therefore, the best scenario is as follows.
● Slowly Increasing BTC price and MVRV Z score until 6.0 next March
If it occurs, it would give an opportunity to exit the crypto market somewhat next Q1. But, I believe this cycle will last until next Q4, which means the next summer market condition and sentiment would likely be bearish.
So, my investment strategy is to increase cash ratio, when MVRV Z Score is reaching around 6.0. I don't wanna take a risk of a summer bearish season. But, no one knows the next year market condition precisely. I just wanna get rid of the uncertainty.
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Do you think a market correction or consolidation is inevitable once the MVRV Z Score hits 6.0, or is there a chance that the cycle could continue without a significant Retro Bowl drop?
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