Bitcoin Price Yet To Bottom Based On MVRV Bands — $43K Still Possible?

The Bitcoin price enjoyed a modest recovery on Friday, the start of May. Alongside its technically bullish structure, this auspicious beginning suggests Bitcoin’s chances of performing impressively in the coming weeks. Yet, the flagship cryptocurrency still faces a broader threat of a potential downturn. According to data from on-chain evaluation, if Bitcoin experiences another sell-off, it might not establish a local floor until it reaches as low as $43,000.

Read the full article and join the community discussion on Inimzu.