CandleFocus Bitcoin price is still undervalued, MVRV indicator shows
2024-12-22
Author: Content Editor
Bitcoin price has performed well this year, outpacing traditional assets like the Nasdaq 100 and S&P 500. Recently, Bitcoin experienced a pullback after the Federal Reserve hinted at only two interest rate cuts in 2025. This pullback affected investors, as seen through outflows in spot ETFs. However, the Market Value to Realized Value (MVRV) indicator suggests that Bitcoin is still undervalued, with an MVRV-Z score indicating it may recover strongly in the coming weeks. Additionally, strong fundamentals such as a decrease in Bitcoins in circulation and the rise in stablecoin market cap indicate positive signs for Bitcoin's future. Despite potential pullbacks, Bitcoin is expected to perform well in the longer term.
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