Cryptoquant Analyst: The cryptocurrency market is still in a bull market, BTC may further increase in early June
ChainCatcher news, Cryptoquant analyst Crypto Dan stated that the cryptocurrency market is still in a bull market, and Bitcoin's price has not yet reached its peak, predicting it can rise further. In past bull markets, MVRV peaks were 4.83 and 3.97 respectively, currently only reaching 2.78, not yet entering an overvalued area, expected to rise further. After entering the overheated stage in March 2024, Bitcoin experienced more than two months of sideways movement and adjustment period; it is likely to see a further increase earlier in June.
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.
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