Ryan Selkis: “Indicators are talking about the upcoming growth of bitcoin”

The founder and CEO of the analytics firm Messari said that both fundamental and technical analysis speak for the growth of bitcoin in the medium term. Ryan Selkis emphasized in an interview that the MVRV (Market Value to Realized Value) ratio indicates the beginning of the Bitcoin accumulation phase. According to the analyst, most likely, the phase will last for quite a long time, but then the price of the first cryptocurrency will start to grow. The MVRV indicator shows the ratio of the market and real capitalization of an asset. Accordingly, if the indicator falls below 1, then the real value of the asset is higher than the market value and it is time to buy it. “When MVRV reaches 3, it means it’s time to sell the asset. When MVRV drops to 1, then it is worth buying an asset. Where are we now? Similar figures were in January 2015, December 2018 and March 2020. In general, I advise you to sell a kidney and buy for everything,” Selkis said. The founder of Messari recalled that Bitcoin halving is in a fairly close future – it is expected that the reward for miners will decrease in 18 months.. In addition, only bitcoin is perceived as a “real alternative” to gold: “If the capitalization of bitcoin and gold equals, then this means an increase in the BTC rate by 25 times. In general, I would advise buying bitcoin at 4% of the value of the capital invested in gold. Looking at the current market, bitcoin could well be worth $500,000.” Earlier, Ryan Selkis said that the current cryptocurrency market recession could benefit the entire industry.