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Bitcoin Bull Run Begins: We’re Just Getting Started, Says Prominent Analyst!

  • Analyst Will Clemente predicts that Bitcoin is entering a bull season.
  • Clemente uses the Market Value to Realized Value (MVRV Z) data to suggest that the price of Bitcoin is still cheap.
  • Historically, when the MVRV Z value for long-term investors (LTH) goes above 1, it indicates the start of a Bitcoin rally.

Bitcoin analyst Will Clemente predicts the start of a bull season based on the Market Value to Realized Value (MVRV Z) data. According to Clemente, the price of Bitcoin is still cheap, and historically, when the MVRV Z value for long-term investors goes above 1, it signals the beginning of a Bitcoin rally. Learn more about Clemente’s prediction and the current state of Bitcoin.

Bitcoin Analyst Predicts Bull Season

Renowned analyst Will Clemente has made a prediction about the current state of Bitcoin, indicating that the rise is just beginning.

Bitcoin’s Bull Season Begins

With over half a million followers on social media, Will Clemente’s statement about Bitcoin has attracted attention. In a recent post, he stated that “we are just at the beginning” and pointed out on the graph that we are in the early stages of a bull season.

MVRV Z Indicates Cheap Price

Using the “Market Value to Realized Value” (MVRV Z) data, which calculates the difference between a cryptocurrency’s intrinsic value and market price, the analyst implied that the price of Bitcoin is still cheap.

Quoting data provided by on-chain analysis firm Glassnode, Clemente highlighted a breaking point that represents long-term investors (LTH) in particular. According to the graph shared by Clemente, historically, when the MVRV Z value for long-term investors goes above 1, it signals the beginning of a Bitcoin rally.

It is also noteworthy that the marked points on the graph shared by the analyst correspond to the ends of previous bull seasons. The LTH-MVRV data, which shows a similar pattern in the current days, according to the analyst’s interpretation, indicates the start of a new bull season.

CMC data shows that Bitcoin has experienced a 1.5% increase in the past week and is currently trading at $31,050.

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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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