Critical Warning for Bitcoin Price from Experienced Analyst! “He Has Never Been Wrong Since 2021!”

All investors and the market BitcoinWhile waiting for the historical moment in BTC He said hello to $69,000 yesterday evening.

However, this happiness did not last long, and with the selling pressure from $ 69,000, BTC rose to $ 59,000 in about 5 hours.

While the market was painted red with this decline, this decline made investors nervous.

While it is still unclear whether the correction is over or not, the successful analyst Based on data from Santiment, Ali Martinez said that Bitcoin is on the verge of a harsher correction according to the MVRV indicator, which currently stands at 19.57%.

Accordingly, the analyst warned investors by stating that every time the MVRV indicator exceeds the 18% threshold since February 2021, the Bitcoin price has fallen by 24% to 55%.

According to historical data, a worrying situation awaits Bitcoin, and if this pattern repeats, a decline of at least 24% would mean that BTC could fall to $ 52,000.

Stating that the MVRV indicator and the MVRV-price trend in Bitcoin should be closely followed by investors, the analyst said: told:

“The Bitcoin MVRV indicator is currently at 19.57%! Since February 2021, every time it crossed the 18% threshold, BTC price dropped between 24% and 55%.

Traders need to follow the MVRV indicator and this trend because it predicts a steep price correction!”

Calls to Buy the Drop Increased!

Other than Martinez centimeter Shedding light on a different aspect of Bitcoin’s rise, he said that the temporary celebration of Bitcoin reaching its all-time high was overshadowed by concerns as the price dropped by 7%.

After the decline in Bitcoin “calls to buy the dip” Pointing out that it has reached its highest level in recent months, Santiment said that historically, when there is a decrease in buying calls, these declines present a real buying opportunity.

“Bitcoin’s brief AllTimeHigh celebration was quickly replaced by crowd concerns over a 7% price drop.

BuyTheDip calls hit a multi-month high. “Historically, when the number and urgency of bearish buying calls ceases, this presents a real buying opportunity.”

📈📉 #Bitcoin‘s short-lived #AllTimeHigh The celebration was quickly replaced with crowd concerns over a -7% price drop. #BuyTheDip calls are at their highest level in a couple months. Historically, once urgency dies down, this is the true opportunity to buy. https://t.co/AGuuXkwLwH pic.twitter.com/nqNEzcXc0W

— Santiment (@santimentfeed) March 5, 2024

*This is not investment advice.