On-chain signal reappears! Bitcoin bull top prediction points directly to $21w +, bull market pace is approaching

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CryptoChan2024/12/09 10:07

By:CryptoChan

CryptoChan's latest Median MVRV Data Analysis has once again attracted market attention. By fitting the bull top and bear bottom function of the median profit rate on the Bitcoin chain, the current oscillator score is 46.8, which is in the "skepticism" range.

Based on this score, the future peak price of Bitcoin is expected to reach $210,000 +. This prediction is based on the characteristics of Median MVRV: compared to traditional MVRV indicators, it can better reflect the actual profit situation of the market and avoid the interference of extreme values. Therefore, at the peak of the bull market, Median MVRV usually exceeds the average profit rate.

CryptoChan pointed out that in the process of Bitcoin price gradually oscillating upwards, the increase in on-chain turnover rate may cause MVRV to oscillate sideways, delaying the reflection of the market's strong performance. This also means that $21w + is not the final peak of the bull market, but a mid-term goal within the bull market cycle. Over time, the predicted value of the bull market may further increase.

Faced with this chain signal, market sentiment seems to still be in the "skeptical" stage, but history has proven that this is often a prelude to opportunities. The bull market is approaching, are you ready to welcome the next high point?

On-chain signal reappears! Bitcoin bull top prediction points directly to $21w +, bull market pace is approaching image 0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

The Federal Reserve's Beige Book shows little change in U.S. economic activity, with increasing divergence in the consumer market. JPMorgan predicts a Fed rate cut in December. Nasdaq has applied to increase the position limit for BlackRock's Bitcoin ETF options. ETH has returned to $3,000, signaling a recovery in market sentiment. Hyperliquid has sparked controversy due to a token symbol change. Binance faces a $1 billion terrorism-related lawsuit. Securitize has received EU approval to operate a tokenization trading system. The Tether CEO responded to S&P's credit rating downgrade. Large Bitcoin holders are increasing deposits to exchanges. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved by the Mars AI model.

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