Bitcoin, the world’s leading cryptocurrency by market capitalization, is set for an exciting phase of growth, as indicated by a leading crypto analyst. Despite relatively stable prices around $30,000 in the recent period, this expert believes that a new bullish phase for bitcoin is on the horizon.

The analyst’s forecast lies in his interpretation of the Long Term Holders (LTH) MVRV indicator, a powerful tool for identifying potential market cycle reversals in bitcoin. The LTH MVRV ratio compares the market value of all circulating bitcoins to the actual value of those coins. The Long Term Holder (LTH) MVRV indicator offers valuable insights into the behavior of long-term investors by specifically analyzing coins held for extended periods.

According to analyst analysis of LTH MVRV readings, the bull run in bitcoin is far from over. This indicator has consistently demonstrated its reliability in predicting market tops and bottoms. Importantly, the LTH MVRV is currently showing no signs of overheating, indicating that bitcoin price still has plenty of room for more upside.

Another contributing factor to this bullish forecast is the decreasing liquidity of bitcoin on centralized exchanges. Over time, there has been a steady decrease in the number of BTC held on exchanges, indicating a change in investor behavior. As more people move their bitcoins off exchanges and into private wallets, the supply available for trading decreases. This reduction in exchange liquidity is generally seen as a positive sign for future price increases.

The convergence of favorable LTH MVRV readings and decreasing exchange liquidity suggests that Bitcoin may be on the cusp of another notable rally. However, it is important to stress that these indicators, while valuable, do not guarantee future price movements. The cryptocurrency market is extremely volatile and is affected by many factors such as regulatory changes, global economic conditions, and technological advancements.

It is highly recommended that investors proceed with caution and diligently conduct thorough research before making any investment decisions. While analyst forecasts are optimistic, it is necessary to be mindful of the inherent risks associated with cryptocurrencies.

As the crypto market continues to grow, the growth potential of bitcoin remains the subject of considerable interest and speculation. The coming months will shed more light on whether analyst predictions hold true, and if indeed, a new phase of the bitcoin bull run is about to unfold.

4 thoughts on “Bitcoin Bull Run Just Getting Started, Analyst Predicts

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