The Bitcoin market remains deeply immersed in cryptocurrency winter. The low prices of most cryptocurrencies and the plummeting temperature outside the window in December go hand in hand with a cooling of the entire sector of digital assets. An on-chain indicator that visually captures the frosty time for crypto is MVRVT.
In a previous on-chain analysis, BeInCrypto looked at 5 indicators that signal the end of a cryptocurrency bear market. In addition, we looked at the 65% time period since the previous halving in another analysis. Today we combine these two perspectives. We use the MVRVT indicator to analyze the current market cycle, specifically in relation to the upcoming Bitcoin halving event.
MVRVT confirms extreme winter in Bitcoin market
We derive the Market Value to Realized Value Temperature (MVRVT) on-chain analysis indicator from the Market Value to Realized Value (MVRV) metric. MVRV is the ratio of market capitalization…
