Crypto trader and strategist Ali Martinez expressed bullish sentiments about Dogecoin (DOGE) rival and Bitcoin (BTC).
Martinez says 42,700 followers on the
TD Sequential Indicator is used to predict the possibility of a market trend reversal.
“SHIB could rise to $0.010 or potentially $0.011, so watch carefully!”
As of this writing, Shiba Inu is trading at $0.00000903.
Martinez Switches to Bitcoin Called Based on historical precedent for market-to-realized value (MVRV), the leading cryptocurrency asset could rise approximately 41% from current levels.
MVRV is the ratio of Bitcoin market capitalization to realized capitalization. In other words, it is the value assessed at the price at which all Bitcoins were purchased. MVRV’s extreme deviation price bands are used to determine possible market lows and highs. 1.0 standard deviation is the upper band and -1.0 standard deviation is the lower band.
“In past bull markets, Bitcoin touched the average MVRV price band and then bounced back strongly.
We are now seeing a similar pattern. With the recent average MVRV rebound from $40,500, there is a possibility that BTC will surge towards the 1.0 standard deviation line of $60,000!”
At the time of this writing, Bitcoin is trading at $42,653.
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