{"id":534588,"date":"2023-05-23T11:58:45","date_gmt":"2023-05-23T11:58:45","guid":{"rendered":"https:\/\/www.shenyangcang.com\/?p=534588"},"modified":"2023-05-23T11:58:45","modified_gmt":"2023-05-23T11:58:45","slug":"litecoins-mvrv-has-surged-why-this-is-bearish","status":"publish","type":"post","link":"https:\/\/www.shenyangcang.com\/news\/litecoin\/litecoins-mvrv-has-surged-why-this-is-bearish\/","title":{"rendered":"Litecoin’s MVRV Has Surged, Why This Is Bearish"},"content":{"rendered":"

On-chain data shows the Litecoin MVRV has been at relatively high levels recently, something that could be bearish for the cryptocurrency.<\/p>\n

Both 30-Day & 365-Day Litecoin MVRV Ratios Are High Currently<\/h2>\n

According to data from the on-chain analytics firm Santiment<\/a>, LTC traders are well above water at the moment. The “MVRV ratio<\/a>” is an indicator that measures the ratio between the two main capitalization models for Litecoin: the market cap and the realized cap.<\/p>\n

The market cap here is the usual cap that calculates the total value of the asset by simply taking the value of each coin in the circulating supply the same as the current spot price.<\/p>\n

The realized cap<\/a>, however, is a more special model as it assumes that the actual value of any coin in circulation is the price at which it was last transacted on the blockchain.<\/p>\n

Since this model aims to estimate a sort of “true value” for Litecoin, its comparison with the market cap (that is, the spot price) in the MVRV can tell us whether the asset’s price is fair or not right now.<\/p>\n

When the MVRV has a value greater than 1, it means the market cap is above the realized cap currently. During such times, the average investor is in a state of profit, so the incentive to sell for them increases. As such, the cryptocurrency could be considered overpriced in these conditions.<\/p>\n

Related Reading: How Does Current Bitcoin Rally Compare With Historical Ones?<\/a><\/div>\n

On the other hand,\u00a0 the indicator having a value lower than this threshold implies the average holder is in a loss, and hence, the asset may be undervalued currently.<\/p>\n

Now, here is a chart that shows the trend in the 30-day and 365-day moving averages (MAs) of the Litecoin MVRV ratio over the last few months:<\/p>\n

\"Litecoin<\/p>\n

Looks like the values of the metrics have been high in recent days | Source: Santiment<\/a><\/pre>\n
As displayed in the above graph, both the 30-day and 365-day MAs of Litecoin MVRV have risen above the baseline with the recent surge in the price beyond the $90 level. This may mean that the cryptocurrency could have become slightly overpriced.<\/p>\n
Prior to this surge, when LTC had been visiting some lows, the 30-day version of the indicator had temporarily entered into the undervalued region. Coinciding with these values of the metric, the price formed its bottom and eventually built up towards the current surge.<\/p>\n
Related Reading: Former MicroStrategy CEO Says Bitcoin Rally Just Getting Started<\/a><\/div>\n
Back in April, the MVRV MAs showed a similar behavior as right now, as they touched relatively high values when the asset had rallied above the $100 mark. The rally stopped before long in those overvalued conditions, and the asset took a plunge.<\/p>\n
If a similar pattern as back then also follows with the current overpriced values of the indicator, then Litecoin may go on to observe a correction in the near future.<\/p>\n
In the long term, however, the outlook of the asset could still remain bullish, as the much-awaited halving<\/a> event, where the cryptocurrency’s block rewards will be permanently cut in half, will take place in August, which is just around the corner now.<\/p>\n
LTC Price<\/h2>\n
At the time of writing, Litecoin is trading around $91, up 1% in the last week.<\/p>\n
\"Litecoin<\/p>\n
LTC has seen some surge in the last few days | Source: LTCUSD on TradingView<\/a><\/pre>\n
Featured image from iStock.com, charts from TradingView.com, Santiment.net<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows the Litecoin MVRV has been at relatively high levels recently, something that could be bearish for the cryptocurrency. Both 30-Day & 365-Day Litecoin MVRV Ratios Are High Currently According to data from the on-chain analytics firm Santiment, LTC traders are well above water at the moment. The “MVRV ratio” is an indicator that measures the ratio between the two main capitalization models for Litecoin: the market cap and the realized cap. The market cap here is the usual cap that calculates the total value of the asset by simply taking the value of each coin in the circulating supply the same as the current spot price. The realized cap, however, is a more special model as it assumes that the actual value of any coin in circulation is the price at which it was last transacted on the blockchain. Since this model aims to estimate a sort of “true value” for Litecoin, its comparison with the market cap (that is, the spot price) in the MVRV can tell us whether the asset’s price is fair or not right now. When the MVRV has a value greater than 1, it means the market cap is above the realized cap currently. During such times, the average investor is in a state of profit, so the incentive to sell for them increases. As such, the cryptocurrency could be considered overpriced in these conditions. Related Reading: How Does Current Bitcoin Rally Compare With Historical Ones? On the other hand,\u00a0 the indicator having a value lower than this threshold implies the average holder is in a loss, and hence, the asset may be undervalued currently. Now, here is a chart that shows the trend in the 30-day and 365-day moving averages (MAs) of the Litecoin MVRV ratio over the last few months: Looks like the values of the metrics have been high in recent days | Source: Santiment As displayed in the above graph, both the 30-day and 365-day MAs of Litecoin MVRV have risen above the baseline with the recent surge in the price beyond the $90 level. This may mean that the cryptocurrency could have become slightly overpriced. Prior to this surge, when LTC had been visiting some lows, the 30-day version of the indicator had temporarily entered into the undervalued region. Coinciding with these values of the metric, the price formed its bottom and eventually built up towards the current surge. Related Reading: Former MicroStrategy CEO Says Bitcoin Rally Just Getting Started Back in April, the MVRV MAs showed a similar behavior as right now, as they touched relatively high values when the asset had rallied above the $100 mark. The rally stopped before long in those overvalued conditions, and the asset took a plunge. If a similar pattern as back then also follows with the current overpriced values of the indicator, then Litecoin may go on to observe a correction in the near future. In the long term, however, the outlook of the asset could still remain bullish, as the much-awaited halving event, where the cryptocurrency’s block rewards will be permanently cut in half, will take place in August, which is just around the corner now. LTC Price At the time of writing, Litecoin is trading around $91, up 1% in the last week. LTC has seen some surge in the last few days | Source: LTCUSD on TradingView Featured image from iStock.com, charts from TradingView.com, Santiment.net<\/p>\n","protected":false},"author":542,"featured_media":534600,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16897],"tags":[10,2776,88241,2828,2831],"class_list":["post-534588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-litecoin","tag-litecoin-bearish","tag-litecoin-mvrv-ratio","tag-ltc","tag-ltcusd"],"acf":[],"yoast_head":"\nLitecoin's MVRV Has Surged, Why This Is Bearish<\/title>\n<meta name=\"description\" content=\"On-chain data shows the Litecoin MVRV has been at relatively high levels recently, something that could be bearish for the cryptocurrency.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/www.shenyangcang.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Litecoin’s MVRV Has Surged, Why This Is Bearish","url":"http:\/\/www.shenyangcang.com\/news\/litecoin\/litecoins-mvrv-has-surged-why-this-is-bearish\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.shenyangcang.com\/news\/litecoin\/litecoins-mvrv-has-surged-why-this-is-bearish\/"},"thumbnailUrl":"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2023\/05\/iStock-182744280-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2023\/05\/iStock-182744280-1.jpg?fit=2121%2C1414"},"articleSection":"Litecoin","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["litecoin","litecoin bearish","litecoin mvrv ratio","ltc","ltc\/usd"],"dateCreated":"2023-05-23T11:58:45Z","datePublished":"2023-05-23T11:58:45Z","dateModified":"2023-05-23T11:58:45Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Litecoin’s MVRV Has Surged, Why This Is Bearish\",\"url\":\"http:\\\/\\\/www.shenyangcang.com\\\/news\\\/litecoin\\\/litecoins-mvrv-has-surged-why-this-is-bearish\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.shenyangcang.com\\\/news\\\/litecoin\\\/litecoins-mvrv-has-surged-why-this-is-bearish\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/iStock-182744280-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/iStock-182744280-1.jpg?fit=2121%2C1414\"},\"articleSection\":\"Litecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"litecoin\",\"litecoin bearish\",\"litecoin mvrv ratio\",\"ltc\",\"ltc\\\/usd\"],\"dateCreated\":\"2023-05-23T11:58:45Z\",\"datePublished\":\"2023-05-23T11:58:45Z\",\"dateModified\":\"2023-05-23T11:58:45Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2023\/05\/iStock-182744280-1.jpg?fit=2121%2C1414","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/posts\/534588"}],"collection":[{"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/comments?post=534588"}],"version-history":[{"count":0,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/posts\/534588\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/media\/534600"}],"wp:attachment":[{"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/media?parent=534588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/categories?post=534588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/tags?post=534588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}