Crypto analyst Ali Martinez This may not be the best time to invest in Bitcoin. The flagship cryptocurrency’s recent price recoveryThe crypto token has soared above $64,000.
Bitcoin Is Still In A “Prime Buy Zone”
Martinez mentionned in an X post The following are some examples of how to use Bitcoin’s Market Value to Realized Value It is important to note that the 90-day (MVRV), ratio still indicates it’s in good condition. “prime buy zone” Its recent surge in price from $57,000 up to $64,000 is not enough. MVRV measures whether crypto tokens are undervalued, or overvalued.
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Martinez has found that Bitcoin appears to be a good investment. currently undervaluedThe crypto-token is an excellent opportunity for those who missed the dip. It is clear that the analyst’s statement provides comfort to those investors who did not buy at the bottom of the market and were looking for an entry into Bitcoin.
Interestingly, Bitcoin whales Bitcoinists didn’t wait to accumulate during the recent Bitcoin decline. reported These investors purchased 47.500 BTC (2.8 billion dollars) between the 2nd and 3rd of May. This suggests that the MVRV at this level indicates that most of these whales were investors who added to their positions. Therefore, significant buying pressure is not expected in the near future.
Crypto Analyst Michaël van de Poppe Recently, suggested Bitcoin remains undervalued. He said that retail hasn’t arrived yet, but the crypto token was back over $60,000. He said in another X post The retail investor’s return is not expected until summer. Therefore, anyone who has already made a position for the future of their investments are still too early.
BTC Nearing Next Leg of Upleg
Crypto analyst Mikybull Crypto ??????????????? hinted He said that Bitcoin’s local bottom is in considering the fact that it has already experienced a parabolic rise. Bitcoin is at its local bottom, he said. “next liquidity grab interest is above.” Bitcoin, he said, will “clear the market” first. $67,000 level Consolidate to prepare for $73,000.
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In another article, an analyst also revealed that the same thing was happening. X post Bitcoins are a new currency. “finally experienced a MACD (Moving Average Convergence/Divergence) bullish cross” The crypto token rose to as much as high as $73,000 In March. Mikybull Crypto says Bitcoin will regain its 50-day Moving average if it reaches that level. “further confirm the bullish continuation.”
Mikybull Crypto is a good option for those who want to invest in Bitcoin. remarked The $64,000 to $74,000 range is a good starting point. “ideal zone” to do so. Bitcoin is predicted to be the future of money. CME gap The price of the car will fluctuate between $62,580 – $64,105 and then settle at about $64,000.
Bitcoin was trading around $65,300 at the time this article was written, an increase of over 2% within the past 24 hours. data CoinMarketCap.
Source| Source: BTCUSD on Tradingview.com
Chart from Tradingview.com, Featured Image from The Independent
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