Even after reaching a new all-time high on March 11, the founder of LookintoBitcoin, Philip Swift, in a post on X, believes the Bitcoin bull market is just getting started and has “a long way to go.” Supporting this bullish preview, Swift points to a popular on-chain metric, the MVRV Z-Score, which currently sits at 2.87.
Bitcoin Bulls In Charge, MVRV Z-Score Low
Bitcoin bulls have been relentless when writing, driving prices to fresh highs. After easing past $70,000 last week, prices roared higher on March 11, pushing the coin to an all-time high of $72,800. Bulls remain buoyant, expecting more gains and even new all-time highs in the coming sessions.
While this develops, the MVRV Z-Score remains low but rising as of March 12. On-chain analysts often leverage this metric to assess the stage of the bull cycle. Analysts can use this tool to determine periods when Bitcoin is undervalued relative to its fair value.
Historically, and as explained by LookintoBitcoin, t
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