CryptoQuant Analyst: The MVRV 100-day moving average shows that Bitcoin has not yet reached the peak of this cycle
The CryptoQuant analyst stated that the analysis of the MVRV 100-day moving average indicator suggests that Bitcoin has not yet reached its peak price for this cycle.
The MVRV 100-day moving average indicator is an optimized index for detecting market tops and bottoms. In the past two cycles, the MVRV index reached 3 at the market top, while it currently stands at 2.14. Based on this, it can be said that Bitcoin is preparing to reach its peak price in this cycle, which is likely to happen within a few months.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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