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    Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('
                        Contents
                        <ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h240">The worst might be over </a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h349">Bitcoin’s intrinsic value</a></li></ul>
        Advertisement
        
            
        
        
            
                    
                
                                                
    
            
            
                    
                
                                                
    
            
        
    Bitcoin is no longer trading <a rel="nofollow" target="_blank" href="#">at a discounted price</a>, according to the popular metric that helps to identify whether the top cryptocurrency is underpriced or overpriced.&nbsp;
    
    <blockquote class="twitter-tweet">
    MVRV Z-score update:
    
    1/ Interesting to see that after a brief dip below, market value has now spiked back above realised value.
    
    This means that on average, the current market value of bitcoins are now greater than the cost basis paid for them... <a rel="nofollow" target="_blank" href="https://t.co/jef6RFW4gv">pic.twitter.com/jef6RFW4gv</a>
    — Philip Swift (@PositiveCrypto) <a rel="nofollow" target="_blank" href="https://twitter.com/PositiveCrypto/status/1242505472634163200?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
    
    
    
    
    It could be a sign that BTC has already <a rel="nofollow" target="_blank" href="#">bottomed out</a> earlier this month.&nbsp;
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    The worst might be over&nbsp;
    
    As <a rel="nofollow" target="_blank" href="#">reported by U.Today</a>, Bitcoin’s market value dropped below its realized value earlier this March. Hence, MVRV Z-score dipped below 0, which appears to be a rare occasion.
    
    This was preceded by the collapse of the whole crypto market on March 12 when BTC nose-dived 38 percent in a single day (its third-biggest daily drop on record).&nbsp;
    
    The good news is that the Z-score also was negative when BTC was bottoming out in January 2015 and December 2018. If history is any guide, the flagship cryptocurrency might not revisit its 2020 low again.&nbsp;
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    Bitcoin’s intrinsic value
    
    Back in January, when BTC was trading just above $8,000, JPMorgan calculated that BTC’s was still trading well above its intrinsic value. It mainly hinges on the coin’s hashrate (the metric that measures the processing power of the entire network).
    
    With both Bitcoin’s difficulty and hashrate <a href="https://u.today/bitcoins-difficulty-on-track-for-historic-drop-but-there-is-silver-lining">taking a massive hit</a> due to the exodus of miners in March, it’s safe to assume that Bitcoin’s intrinsic value also declined significantly.&nbsp;
    ') (Line: 1133)
    Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
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    Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('
                        Contents
                        <ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h240">The worst might be over </a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h349">Bitcoin’s intrinsic value</a></li></ul>
        Advertisement
        
            
        
        
            
                    
                
                                                
    
            
            
                    
                
                                                
    
            
        
    Bitcoin is no longer trading <a rel="nofollow" target="_blank" href="#">at a discounted price</a>, according to the popular metric that helps to identify whether the top cryptocurrency is underpriced or overpriced.&nbsp;
    
    <blockquote class="twitter-tweet">
    MVRV Z-score update:
    
    1/ Interesting to see that after a brief dip below, market value has now spiked back above realised value.
    
    This means that on average, the current market value of bitcoins are now greater than the cost basis paid for them... <a rel="nofollow" target="_blank" href="https://t.co/jef6RFW4gv">pic.twitter.com/jef6RFW4gv</a>
    — Philip Swift (@PositiveCrypto) <a rel="nofollow" target="_blank" href="https://twitter.com/PositiveCrypto/status/1242505472634163200?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
    
    
    
    
    It could be a sign that BTC has already <a rel="nofollow" target="_blank" href="#">bottomed out</a> earlier this month.&nbsp;
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    The worst might be over&nbsp;
    
    As <a rel="nofollow" target="_blank" href="#">reported by U.Today</a>, Bitcoin’s market value dropped below its realized value earlier this March. Hence, MVRV Z-score dipped below 0, which appears to be a rare occasion.
    
    This was preceded by the collapse of the whole crypto market on March 12 when BTC nose-dived 38 percent in a single day (its third-biggest daily drop on record).&nbsp;
    
    The good news is that the Z-score also was negative when BTC was bottoming out in January 2015 and December 2018. If history is any guide, the flagship cryptocurrency might not revisit its 2020 low again.&nbsp;
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    Bitcoin’s intrinsic value
    
    Back in January, when BTC was trading just above $8,000, JPMorgan calculated that BTC’s was still trading well above its intrinsic value. It mainly hinges on the coin’s hashrate (the metric that measures the processing power of the entire network).
    
    With both Bitcoin’s difficulty and hashrate <a href="https://u.today/bitcoins-difficulty-on-track-for-historic-drop-but-there-is-silver-lining">taking a massive hit</a> due to the exodus of miners in March, it’s safe to assume that Bitcoin’s intrinsic value also declined significantly.&nbsp;
    ') (Line: 1133)
    Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
    __TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
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    Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('
                        Contents
                        <ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h240">The worst might be over </a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h349">Bitcoin’s intrinsic value</a></li></ul>
        Advertisement
        
            
        
        
            
                    
                
                                                
    
            
            
                    
                
                                                
    
            
        
    Bitcoin is no longer trading <a rel="nofollow" target="_blank" href="#">at a discounted price</a>, according to the popular metric that helps to identify whether the top cryptocurrency is underpriced or overpriced.&nbsp;
    
    <blockquote class="twitter-tweet">
    MVRV Z-score update:
    
    1/ Interesting to see that after a brief dip below, market value has now spiked back above realised value.
    
    This means that on average, the current market value of bitcoins are now greater than the cost basis paid for them... <a rel="nofollow" target="_blank" href="https://t.co/jef6RFW4gv">pic.twitter.com/jef6RFW4gv</a>
    — Philip Swift (@PositiveCrypto) <a rel="nofollow" target="_blank" href="https://twitter.com/PositiveCrypto/status/1242505472634163200?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
    
    
    
    
    It could be a sign that BTC has already <a rel="nofollow" target="_blank" href="#">bottomed out</a> earlier this month.&nbsp;
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    The worst might be over&nbsp;
    
    As <a rel="nofollow" target="_blank" href="#">reported by U.Today</a>, Bitcoin’s market value dropped below its realized value earlier this March. Hence, MVRV Z-score dipped below 0, which appears to be a rare occasion.
    
    This was preceded by the collapse of the whole crypto market on March 12 when BTC nose-dived 38 percent in a single day (its third-biggest daily drop on record).&nbsp;
    
    The good news is that the Z-score also was negative when BTC was bottoming out in January 2015 and December 2018. If history is any guide, the flagship cryptocurrency might not revisit its 2020 low again.&nbsp;
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    Bitcoin’s intrinsic value
    
    Back in January, when BTC was trading just above $8,000, JPMorgan calculated that BTC’s was still trading well above its intrinsic value. It mainly hinges on the coin’s hashrate (the metric that measures the processing power of the entire network).
    
    With both Bitcoin’s difficulty and hashrate <a href="https://u.today/bitcoins-difficulty-on-track-for-historic-drop-but-there-is-silver-lining">taking a massive hit</a> due to the exodus of miners in March, it’s safe to assume that Bitcoin’s intrinsic value also declined significantly.&nbsp;
    ') (Line: 1133)
    Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
    __TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
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    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array) (Line: 474)
    Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 1002)
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    Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('
                        Contents
                        <ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h240">The worst might be over </a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h349">Bitcoin’s intrinsic value</a></li></ul>
        Advertisement
        
            
        
        
            
                    
                
                                                
    
            
            
                    
                
                                                
    
            
        
    Bitcoin is no longer trading <a rel="nofollow" target="_blank" href="#">at a discounted price</a>, according to the popular metric that helps to identify whether the top cryptocurrency is underpriced or overpriced.&nbsp;
    
    <blockquote class="twitter-tweet">
    MVRV Z-score update:
    
    1/ Interesting to see that after a brief dip below, market value has now spiked back above realised value.
    
    This means that on average, the current market value of bitcoins are now greater than the cost basis paid for them... <a rel="nofollow" target="_blank" href="https://t.co/jef6RFW4gv">pic.twitter.com/jef6RFW4gv</a>
    — Philip Swift (@PositiveCrypto) <a rel="nofollow" target="_blank" href="https://twitter.com/PositiveCrypto/status/1242505472634163200?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
    
    
    
    
    It could be a sign that BTC has already <a rel="nofollow" target="_blank" href="#">bottomed out</a> earlier this month.&nbsp;
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    The worst might be over&nbsp;
    
    As <a rel="nofollow" target="_blank" href="#">reported by U.Today</a>, Bitcoin’s market value dropped below its realized value earlier this March. Hence, MVRV Z-score dipped below 0, which appears to be a rare occasion.
    
    This was preceded by the collapse of the whole crypto market on March 12 when BTC nose-dived 38 percent in a single day (its third-biggest daily drop on record).&nbsp;
    
    The good news is that the Z-score also was negative when BTC was bottoming out in January 2015 and December 2018. If history is any guide, the flagship cryptocurrency might not revisit its 2020 low again.&nbsp;
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    Bitcoin’s intrinsic value
    
    Back in January, when BTC was trading just above $8,000, JPMorgan calculated that BTC’s was still trading well above its intrinsic value. It mainly hinges on the coin’s hashrate (the metric that measures the processing power of the entire network).
    
    With both Bitcoin’s difficulty and hashrate <a href="https://u.today/bitcoins-difficulty-on-track-for-historic-drop-but-there-is-silver-lining">taking a massive hit</a> due to the exodus of miners in March, it’s safe to assume that Bitcoin’s intrinsic value also declined significantly.&nbsp;
    ') (Line: 1133)
    Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
    __TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
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Bitcoin (BTC) Is Once Again Overvalued (and It's a Good Thing)

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Tue, 24/03/2020 - 19:58
Bitcoin (BTC) Is Once Again Overvalued (and It's a Good Thing)
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents
Advertisement

Bitcoin is no longer trading at a discounted price, according to the popular metric that helps to identify whether the top cryptocurrency is underpriced or overpriced. 

It could be a sign that BTC has already bottomed out earlier this month. 

card

The worst might be over 

As reported by U.Today, Bitcoin’s market value dropped below its realized value earlier this March. Hence, MVRV Z-score dipped below 0, which appears to be a rare occasion.

This was preceded by the collapse of the whole crypto market on March 12 when BTC nose-dived 38 percent in a single day (its third-biggest daily drop on record). 

The good news is that the Z-score also was negative when BTC was bottoming out in January 2015 and December 2018. If history is any guide, the flagship cryptocurrency might not revisit its 2020 low again. 

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Bitcoin’s intrinsic value

Back in January, when BTC was trading just above $8,000, JPMorgan calculated that BTC’s was still trading well above its intrinsic value. It mainly hinges on the coin’s hashrate (the metric that measures the processing power of the entire network).

With both Bitcoin’s difficulty and hashrate taking a massive hit due to the exodus of miners in March, it’s safe to assume that Bitcoin’s intrinsic value also declined significantly. 

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