📊 Is Bull Run Over!
The Bitcoin price has fallen by more than 20% since the top which was reached on January 20.
🔍 In result, Bitcoin fell below $1,00,000, and yesterday, sellers managed to push the price below $85,000.
Is the bull run over?
💸 The MVRV Z-Score is an on-chain indicator that lets you know if the BTC price is overvalued (red zone) or undervalued (green zone). Until today, all BTC cycles have ended in the red zone.
The indicator continues to move upwards, and much far away from the red zone. According to this indicator, the bull run is not yet over and Bitcoin could go even higher than $109,000!
Whats your thoughts? Drop it down.