According to Historical Data, the Analyst Who Says Bitcoin Is In The Ideal Buying Period Advice To Investors!

Cryptocurrency While the pressure of the US regulators on the stock markets showed its effect in the market, bitcoin And altcointhere were decreases.

While BTC and altcoins have made up for their losses in the last few days, the popular cryptocurrency platform CryptoQuant analyst Dan Lim He said that some indicators are opportunities for accumulation.

Turning the bear market of some indicators into opportunities and BTC Stating that he said it is the ideal time to save money, the analyst said that in Bitcoin MVRV examined the rate.

Stating that MVRV broke out of the low valuation zone and broke 1 on January 19, the analyst said that the current value is currently at 1.12.

Values ​​above 3.7 in MVRV usually indicate a market high, while values ​​below 1 indicate a possible market bottom.

Analyst, who also examined the MVRV rates in the past,“A strong breakout in the past has never been followed by a MVRV drop below 1.0. “ He stated that BTC never fell below 1.0 level immediately after rising above 1.0 level.

However, reminding that the current bear market is accompanied by macroeconomic problems, the analyst recommended using a long-term and partial buying technique to protect investors against any unforeseen event.

“On January 19, 2023, MVRV, an indicator of whether the Bitcoin price is undervalued or overvalued, broke 1.0 and the current value is 1.12, which is still above the undervaluation zone.

In retrospect, MVRV did not fall below this level after breaking 1 strong.

This time, however, it seems better to take a more conservative and long-term piece-buying approach as a bear market with macro problems continues. “

Stating that when looking back in the next bull market, it will be understood that 2022 and 2023 are really good accumulation periods, the analyst pointed out that unfortunately there are many people who will buy a lot in the late stages of the bull market.

*Not investment advice.