Analytical firm Santiment has been focusing on Bitcoin and Ethereum in the last days as crypto money investors expect bullish. Stating that Ethereum’s long position transactions are better than the average, accompanied by the data, Santiment analisdollarseri drew attention to two different measurements.
Santiment: Cryptocurrency investors should watch out for MVRV
The first metric Santiment mentioned was “MVRV”, which gives us information about the true value of the price. The MVRV metric, which is the unit price of the designated cryptocurrency divided by its total market value, offers a solid risk-reward ratio in the 30-day term, according to Santiment. Additionally, MVRV for the data firm means: “Historically, an MVRV of -16.9% on a 30-day basis is a less risky opportunity to buy than usual.”
Santiment also drew attention to investor psychology, emphasizing that Ethereum is at a suitable level for bottom buyers:
Kidollarse sentiment towards Ethereum is currently at a historically low level, presenting a huge potential opportunity to buy against kidollarse.
Santiment says leading cryptocurrency is recovering
As for Bitcoin, data-source platform Santiment noted that it continues to show strong indications in terms of on-chain fundamentals for the leading cryptocurrency. Announcing that Bitcoin has recovered, the company continued its statements as follows:
Active addresses managed to recover slightly after a massive 50% drop from their all-time high in April. Although our “Active Address Divergence” model makes sense for the price to drop, address efficiency hasn’t dropped that much.
Crypto analysis firm also touched on the effects of the Coronavirus
Finally, Cryptocoin. com
As we have previously reported as , the analysis firm, referring to the coronavirus-induced collapse in March 2020, also commented on the average returns of investors.
Bitcoin could still rise significantly compared to 2020 prices. But despite all the FOMO (fear of missing out), of the top bought and sold regions, BTC is still at the lowest average investor return in 14 months. This is, historically, a better-than-average point to buy.
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