Although there is a revival in the cryptocurrency market, it remains unclear how long this will last. Due to the long bear market, many investors chose to stay aside in the market. However, the positive atmosphere initiated by Bitcoin triggered the return of traders and influencers to the market. The phenomenon nicknamed Cryto Kemal, which is closely followed in the Turkish crypto market, also shared the profit-loss situation of his altcoin portfolio with his followers.
Cryto Kemal has these altcoin projects in his basket!
cryptokoin.comAs you follow from , the leading cryptocurrency Bitcoin has made a strong rally. More importantly, it managed to largely preserve its gains in this rally. Many altcoin projects also rose in this positive atmosphere. This was reflected in the portfolios of investors and traders. Turkish crypto phenomenon Cryto Kemal shared the latest status of his portfolio with his followers. In this context, Cryto Kemal made the following statement to his followers via his X account:
As of now;
FET: 20% snow
EDU: 40% loss
RNDR: 45% profit
PEPE and WOJAK are 3% of the portfolio. They stand close to the costs as a surprise horse. WLD will also be added to the spot portfolio at the first opportunity. I continue with around 45% USDT. If there is a new spot transaction, I will explain the reasons on YouTube.
IntoTheBlock: Bitcoin is in the early stages of the bull market, but..
Crypto analysis firm IntoTheBlock says a key metric shows that Bitcoin (BTC) has entered the early stages of its bull market cycle. In a new blog post, the firm notes that Bitcoin’s market cap-to-realized value (MVRV) ratio behaves similarly to previous bear-bull market transitions.
When the MVRV ratio drops below 100%, it indicates that holders of Bitcoin are buying at lower prices than the average purchase price. Bear markets tend to bottom out when MVRV drops to 70% to 80%. This also represents a buying opportunity. In addition, each time MVRV rose above 100% after falling below it signaled the beginning of a bull market. After these statements, IntoTheBlock shares the following evaluation:
By this measure, Bitcoin’s bull market began in January of this year and may have more room to appreciate if it reaches the 300%+ levels in MVRV seen towards the end of previous bull markets. Overall, on-chain indicators show that Bitcoin is in the early stages of a bull market.
MVRV is the ratio of an asset’s market value to its realized capitalization. Additionally, the metric aims to capture market bottoms and tops. However, IntoTheBlock warns that there is a possibility that the previous MVRV and BTC market patterns may not be repeated this time. “As a result, previous models do not guarantee Bitcoin returns,” the firm said. However, positive supply and demand catalysts have aligned. “This increases the likelihood of another Bitcoin cycle.” said.
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