Bitcoin MVRV Hits Negative Territory!
π When looking to buy low (or sell high), don't just look at prices... Look at how competing traders have performed. Bitcoin's average returns (based on wallet
Not financial advice. DYOR.
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π When looking to buy low (or sell high), don't just look at prices... Look at how competing traders have performed. Bitcoin's average returns (based on wallets making at least 1 transfer in the past 30 days) have a -1.9% return, despite BTC's all-time high happening just over 3 days ago.
With many traders buying at the top as euphoria was truly kicking in, Bitcoin now finds itself with the lowest average wallet returns (30-day MVRV) since the start of the bull rally on October 10th.
With this metric averaging 0% over the history of Bitcoin trading (due to markets being a zero-sum game), consider every percentage point into the negatives as an indication that there is an 'opportunity' to buy while other positions are at a loss. There is no guarantee that we are at (or even near) the exact local bottom, but playing the probabilities with a DCA strategy mixed in, will historically bode well for your portfolio. π
Not financial advice. DYOR.
