Who are the brave ones? The 55% that hodled.
also suggest that the market may have hit oversold territory and is primed for a period of consolidation.
The MVRV Z-score, which uses a combination of Bitcoin’s market value, realized value and z-score, has been a reliable tool to help identify when BTC is “extremely over or undervalued relative to its fair value,”As shown on the chart above, periods where the red z-score has entered the lower green band have represented good buying opportunities for BTC, as have times when the market price dropped below the realized price, a feature shown by the blue and yellow lines at the top of the chart.
It should be noted that with the Bitcoin investor tool and the MVRV Z-Score, the time spent in bear market conditions varies and can go on for an extended period, so it would be wise for investors to not solely base their investment thesis on any particular metric or indicator in isolation. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
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