Bitcoin can be set for more sides movement in the short term as the excessive value scale is currently in red, indicating a higher possibility to achieve profits between bitcoin holders.

The passion platform said in a thanks report on Monday that the market value of Bitcoin (BTC) for the rate of achieved value (MVRV), an indicator that measures whether the original is exaggerated or not, which currently indicates +21 %, indicating that the ordinary investor who bought Bitcoin during the past year is a comfortable profit.

Bitcoin may suffer from a side price

“Although it is not in the extremist historical highlands, this is considered a moderate dangerous area, because it increases the risk of profit,” Santime explained.

Bitcoin is trading at $ 115,800 at the time of publication, according to Coinmarketcap, where about 6 % of its highest level ever reached at $ 12,4128 reached on Wednesday.

Bitcoin has witnessed a 10 % increase in prices in the nine days before the highest new level, but BitFinex analysts said in the market report today that “rapidly gathering” due to the lack of the total economy stimuli needed to maintain the price.

Usually, when Bitcoin reaches its highest levels ever and begins to unify or tend to land, investors were more inclined to achieve profits, fearing that the original had reached the highest local price.

Bitcox analysts added that Bitcoin may face side prices in the short term.

Analysts said: “The market is now firmly in a standard of unification, as it adopts a waiting and watching position as investors weigh the upcoming Macro stimuli.”

One of the overall incentives that many market participants closely monitors is the decision to reduce the US Federal Reserve on September 17, with 83.6 % of the long -awaited reduction, according to the CME Fedwatch tool.

Many Bitcoin merchants do not expect to climb in the short term

Bitcoin shorts also accumulate, with a height of approximately $ 2.2 billion in short positions of liquidation if Bitcoin returns to the highest level ever, according to Coinglass.

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However, Santiment says bitcoin whales are confident of high price levels.

“He does not sell Bitcoin’s largest holders in this gathering,” Santem said.

“The governor, which includes between 10 and 10,000 BTC, continued to accumulate strongly, even after a rise at all.”

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