The recent BSV hype is seemingly fading away, but another event is on the way.
Figure 1: OKEx BSVUSD Index 6-Hour Chart (Source: OKEx; Tradingview)
MVRV Ratio Suggests BSV Overvalued
Figure 2: BSV in USD (Line) vs. MVRV Ratio (Area) (Source: Coinmetric.io)
Moreover, the November-December 2018 case is another example of an extreme MVRT ratio-backed price corrections, although the likelihood of repeating a similar correction pattern remains unknown. However, it won’t be surprised to see if there’s profit-taking activities flood into the markets after these massive rallies.
How to Play?
Figure 3: BSVBTC Weekly Chart (Source: OKEx; Tradingview)