Crypto Bull Run: MVRV Metrics Suggest Room for Growth
CryptoNewsTerminal Staff28 May, 2024
Crypto Bull Run: MVRV Metrics Suggest Room for Growth
## Crypto Bull Run Not Over Yet, Says MVRV Indicator CryptoQuant analyst Crypto Dan has analyzed on-chain data to suggest that the ongoing crypto bull run is not over just yet. In previous market cycles, Bitcoin's Market Value to Realized Value (MVRV) ratio peaked at 4.83 in 2017 and 3.97 in 2021. The current MVRV stands at 2.78, indicating that prices have headroom to rise before reaching overvalued territory. Dan points out that Bitcoin entered the overheated zone in March 2024, followed by a period of ranging and consolidation. He believes that the market could see a resumption of the bull run as early as June. Currently, Bitcoin is trading at $67,917.07, down 2.19%.
