Undervalued Bitcoin (BTC): Key Indicator Highlights Potential for Price Surge

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Bitcoin is currently trading just below the $64,000 level, according to CoinGecko data.
The MVRV Z-score, an indicator that compares the market value to the realized value, currently stands at 1.87, suggesting potential for further rally.
Historically, this indicator has been useful for identifying when Bitcoin was approaching cyclical lows and highs.

Bitcoin’s price is hovering below $64,000, with the MVRV Z-score indicating room for further growth. This article delves into the details of these market indicators and their implications for Bitcoin’s future.

Understanding the MVRV Z-score

The MVRV Z-score is an indicator that compares the market value to the realized value of Bitcoin. The realized cap calculates the last price at which each coin was moved on the network. When the market value is substantially higher than the realized value, it might indicate that Bitcoin is nearing the top of its current cycle. For instance, the score peaked at 10.4 back in December 2017 and at 7 in February 2021. Convers... Read the full article for FREE at COINOTAG!