Recently from Bitcoin (BTC) positive divergence, which has increased by 15.78% in the last week. Litecoin’There is little time left until the third halving.
Investors LTC’While waiting for the halving to make a big breakthrough before the halving, a stunning LTC data came from Glassnode.
According to the news of Coindesk, glassnode’flour used MVRV-Z Score It revealed that Litecoin is currently trading at a low price.
According to the data used by Glassnode, the MVRV-Z Score in Litecoin is negative, while this value is below zero, indicating that LTC is trading at a lower price than its fair value.
Looking at the historical values of the MVRV-Z Score, it is understood that MVRV-Z Score values above eight indicate bull market peaks, and negative values indicate market bottoms.
LTCSharing the table showing the MVRV-Z Score value of , Glassnode stated that the Z-Score value has been constantly negative since July 2022.
Stating that the value is not in the negative region for the first time, Glassonede “This situation is not new in LTC history. The indicator has consolidated below zero several times in the past and eventually broke out of the negative zone, paving the way for meteoric bull runs.” said.
Although these historical data reveal that LTC is ready for a big bull run, cryptocurrencies, including LTC, continue to be negatively impacted by negative macroeconomic developments.
While waiting for Fed chairman Powell’s speech today on Bitcoin and cryptocurrencies LTC At the time of writing, it continues to trade at $ 91.22.
Related Content: Today on Bitcoin and Cryptocurrencies FED Chairman Powell: Here’s His Time and Details!
*Not investment advice
Source: Bitcoinsistemi.com