Oh.. 2021 ATH of the BTC is $13k left 😱
The movement of the BTC(Bitcoin)(Bitcoin)(Bitcoin)(Bitcoin)(Bitcoin) price surging is accelerating. Great! I'm curious about the next movement of the BTC(Bitcoin) price.
Take a look at this chart. The MVRV Z Score is now over 2.0, and there are 3 cycles. Now, the 4th cycle already started. Anyways, as you can see in this chart, when the MVRV Z Score surpassed 2.0, the BTC price had a price correction or consolidation. So, historically, crypto investors and traders need to be cautious and prepare these.
By the way, I thought the BTC price won't decline to the previous ATH(All Time High), $20k. But, the BTC price collapsed to less than $20k. So, it seems that the BTC price movement broke the rule. What I wanna say is we're on the pre-halving period. Before the halvings, the BTC price has never broken the previous ATHs. What if this cycle occured this case? No way..
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I believe this is just the beginning. The approval of BTC ETFs and the upcoming halving will give Bitcoin a significant boost. Reaching 100K by December 2024 should not be a problem.
A minimum Price Range i'd GO for by end of 2024 is 130K