Crypto:
30351
Bitcoin:
$64.233
% 0.10
BTC Dominance:
%54.1
% 0.13
Market Cap:
$2.34 T
% 0.00
Fear & Greed:
53 / 100
Bitcoin:
$ 64.233
BTC Dominance:
% 54.1
Market Cap:
$2.34 T

Santiment Signals Buying Opportunity for Altcoins

Best Altcoins For Next Bull Run

In a share made by on-chain analysis platform Santiment on April 25, the current status of altcoins was given. The company, which analyzes the market using MVRV data, emphasized that over 85% of altcoins are in a historic opportunity zone.

MVRV is the abbreviation of Market Value/Realized Value ratio. This is an indicator that shows whether a cryptocurrency is currently overvalued or undervalued. According to Santiment, the recent declines have brought many altcoins to a “cheap” position.

The Santiment side, which suggests that all the declines and the following fear atmosphere could be the right signals to buy, implied that such opportunities will not arise much in a bull market:

“According to our model, the medium-term gains and losses of average wallets indicate heavy losses occurring in most altcoin-based wallets. When calculating the collective returns of wallets in 1, 3 and 6 month cycles relative to the market value of its realized value (MVRV), over 85% of the assets we follow are in a historic opportunity zone. Buying may be justified as a growing fear seeps from the crowd after all these market value declines.”

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