Image default
Bitcoin BTCCryptoNewsFeatured

The CEO Of Messari Recommends Holding Bitcoin For The Next Months

The CEO of Messari, Ryan Selkis, presented an investment strategy suggesting that Bitcoin holders should retain their investments in the coming months. Selkis focused his recommendation on the MVRV (Market Value to Realized Value) index of Bitcoin’s free float supply, aiming for a range of 2-3 in the next months as a point to consider taking profits.

The strategy proposed by Selkis implies that investors hold onto their Bitcoin investments during the mentioned period and then consider taking profits as the MVRV index reaches its target. Additionally, he advises investors to split their strategy, reserving half of their investments for taxes and using the other half to engage in more speculative opportunities.

Selkis Takes a Different Approach in His Bitcoin Analysis

It is relevant to note that Selkis uses a specific metric based on Coinmetric’s “Free Float Supply” to calculate the MVRV instead of the traditional metric that divides Bitcoin’s market capitalization by its realized capitalization. According to his preferred metric, the MVRV of Bitcoin’s “Free Float Supply” is below 1.5, indicating significant potential for an upward movement.

bitcoin post

Regarding the current situation of BTC, the cryptocurrency’s price stands at $46,903 at the time of writing, having retraced from its recent yearly high of $47,281. Despite this pullback, bullish speculation persists, especially in anticipation of the possible approval of BTC ETFs and the upcoming halving scheduled for April.

Community feedback on Selkis’s strategy has been mixed, with some pointing out that the MVRV value has already surpassed the threshold of 2.0 on various analytical platforms. In response, Selkis clarified that the MVRV he refers to in his post is specifically based on the “Free Float Supply” metric from Coinmetric.

The suggestion from Messari’s CEO, Ryan Selkis, to hold onto Bitcoin investments in the coming months and consider profits based on the MVRV index highlights the importance of a careful investment strategy in the dynamic cryptocurrency market. The choice of specific metrics also underscores the diversity of approaches in evaluating Bitcoin’s upward potential. This is a strategy to consider, especially as BTC may enter periods of high volatility.

Related posts

Crypto Market Surges, Liquidating Over $90 Million of Shorts

jose

New York Introduces Legislation to Charge Licensed Crypto Businesses

Godfrey Benjamin

Binance to Discontinue Some of Its Leveraged Tokens by April

jose

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More