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The market capitalization to realized value index (MVRV) for #بيتكوين approached 1.3, indicating that investors are currently exiting a state of pessimism.
This indicator is used to determine whether Bitcoin's price is excessively high or low compared to investors' purchase prices.
How does it work?
- When MVRV is less than 1
This means most investors are pessimistic or despairing, and the market is often near the bottom.
- When MVRV is between 1 and 2
This indicates that investors are exploring the price, and the market is still in a healthy zone.
- When MVRV is above 3 or 4, it suggests that investors are optimistic or euphoric, and the market is often near the top.
Accuracy:
- Considered one of the most precise long-term indicators for Bitcoin because it relies on real blockchain data, not just technical analysis.
- Strong in the long term.
- Good for identifying accumulation and distribution zones and approximate price levels.
Limitations:
- Does not account for Bitcoin movements within exchange wallets and Layer 2 solutions.
- Does not consider news or external events affecting the network, such as (approval of an ETF investment fund, economic crises, or government regulations).