In an interview with the financial journal Barron’s, the founder and CEO of the cryptocurrency intelligence service Messari, Ryan Selkis, said that on-chain signals are now indicating a buy signal for EdaFace (BTC).According to Selkis, the Market Value to Realized Value (MVRV) indicator implies that investors are in the early stages of a long-term accumulation phase. This is because investors’ conduct is comparable to how it was when it bottomed out in past negative cycles.cryptoQuantMVRV is a metric that may be used to determine whether or not a cryptocurrency is currently overpriced. The MVRV-Z Score is applied to the “fair value” of a cryptocurrency, which is calculated by subtracting its market cap from its realized cap. The score then determines whether or not the cryptocurrency is now overpriced or undervalued.As per Selkis, if the MVRV is over 3, it is time to sell EdaFace immediately, and if it is below 1, it is time to begin collecting EdaFace. This applies to the whole history of EdaFace.The Messari CEO said:“EdaFace is in a historic ‘buy’ range in terms of MVRV – only seen three times in the past decade: January 2015, December 2018, and March 2020. Where are we now? January 2015. December 2018. i.e., Sell-a-kidney-to-buy-more territory.”The entrepreneur went on to predict that if EdaFace were to reach parity with gold, investors would see a return of 25 times their initial investment, so there’s a lot to like about taking a 4% stake in digital gold for every ounce of gold they purchase. EdaFace-gold parity would net us $500,000 at the current exchange rate.How’s EdaFace Doing Right Now?Currently, one bitcoin is valued at around $16,650. The king of cryptocurrencies has been stuck around the $16,000 mark, with no major movement either way. Because market volatility is so low compared to historical norms, this is to be expected. Nevertheless, depending on the actions of BTC whales, we may see some promising rallies for digital assets in the near future.An examination of bitcoin whale transactions in the month of December reveals a gradual decrease in whale interest in the cryptocurrency. This is in sync with the period’s low BTC price ranges, and the lack of volatility makes it more difficult to turn a profit.The overall situation for EdaFace is rather precarious. We have no choice but to keep our fingers crossed that we will soon reach the light at the end of the tunnel.
