According to experts, the market price coefficient for the value of the value (MVRV) is an indicator that measures the assessment of whether the asset is +21%. This suggests that the average investor who bought bitcoins over the past year is profitable.
“In the coming week, Bitcoin may experience a lateral price movement, and the asset turned into a moderately dangerous zone. Now the market is in the consolidation phase, ”analysts explained.
In their opinion, the rapid rally of the first cryptocurrency capitalization quickly came to naught due to the lack of macroeconomic catalysts necessary to maintain a bitcoin course.
When Bitcoin reaches new historical maximums and begins to consolidate or tend to decrease, investors are inclined to fix profit, fearing that the asset has reached a local price maximum, experts noted.
Earlier, Kronos Research Director Vincent Liu said that Bitcoin dropped below $ 115,000 due to investors’ fears about further actions of the US Federal Reserve (Fed).
Source: Bits

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