Bitcoin's price has been going down lately, and experts are trying to figure out if it's hit its lowest point yet. Imagine Bitcoin's price as a rollercoaster; it goes up and down. Right now, it's in a dip.
- A special number called the MVRV Z-Score helps measure if Bitcoin is cheap or expensive.
- This number recently dropped, showing many people are losing money on Bitcoin.
- Experts are watching to see if Bitcoin's price will go lower before it starts to rise again.
| Bitcoin's Current Price | Around $26,300 (Note: This price is an example and may not reflect the actual price at the time of response generation) |
|---|---|
| Recent Price Drop | More than 11% in the last seven days |
| Prediction | Experts aren't sure when Bitcoin will hit its lowest point, but they are watching closely. |
Bitcoin is a type of cryptocurrency, like digital money. On-chain data refers to information directly from the Bitcoin network.
