Bitcoin (BTC), largest crypto, might be getting closer to 'last buying opportunity' before radical growth phase
As displayed by @Yodaskk, Z-Score indicators below 0.1 would be considered extremely low. Once the chart leaves the zone and touches it again, Bitcoin becomes too undervalued, which hints at"parabolic" growth incoming.
To prove this thesis, he demonstrated similar patterns that happened two years before the 2017 and 2021 bullish rallies. The short"dip" of the MVRV Z-Score means the final phase of a bearish recession.His audience shares this opinion. Typically, below $24,000 is considered to be a"no-brainer" buy zone in the ongoing period of a market cycle. However, traders should be ready for panic-driven drops to the"low-20s.
As covered by U.Today previously, on Aug. 16, 2023, Bitcoin erased all of its gains of the last nine weeks. In almost no time, the digital gold collapsed below $25,400.
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