If you invested $125k in potatoes last month, you’d be a millionaire today because Potato prices pumped +704% in the last month.
Bro, we are now getting outperformed by fucking potatoes.
$CORE PRICE SURGES 70% IN ONE WEEK!
The price of $CORE has continued to surge over the past 24 hours.
According to Coingecko, $CORE is up over 70% in the past 7 days, with trading volume also increasing significantly during that period.
Is CORE about to break one zero and make a remarkable comeback to its ATH?
#Bitcoin is undervalued.
Yes, significantly from the fair price.
In all honesty, I think it's actually an opportunity of a lifetime in these regions, given the fact that the indicators vs. Gold have hit rock bottom (the lowest ever).
A statistical measure for this is the MVRV ratio.
This calculates the ratio of the current market price vs the median realized price.
It gives an indication whether or not a lot of buyers of supply are in a loss or not and how much. It gives an indication therefore of under- or overvaluation of the particular asset.
Few key points to derive out of this.
1. The previous bull market has been the weakest so far, it's quite easy to see that the MVRV ratio didn't go as high as expected. As the volatility and velocity to the upside didn't happen, it doesn't need to happen that the correction will be as severe as previous bear markets.
Simply put: previous bull markets were heavier to the upside, so the correction was more painful too.
In the current case: time is painful, and especially if you're more on the risk curve in altcoins, then it's extremely painful.
2. In line with my previous keypoint, the MVRV ratio establishes extreme undervaluation based on the typical acquisition price. It says 'fuck all' to any people predicting lower, as that will always be the case in any extreme bear market predictions.
Therefore, it says that the current MVRV ratio is identical to the MVRV ratio during the bottom of the bear markets in 2022, the COVID crash, or in 2018.
Yes, things can definitely go lower, however, what did happen after these periods?
After 2018: +200% in a year.
After 2020: +1700% in fourteen months.
After 2022: +700% in two years.
Be bearish, sure, but data tells that good times are ahead of us as history proves these points.