Today news
About the same in other media
Bitcoin price metric demands 'strong reaction' as $56K BTC starts to look 'seriously cheap'
Reading now: 363
Bitcoin (BTC) is “seriously cheap” at $56,000 relative to network activity — and that means only one thing, one analyst says.
In a tweet on Nov. 24, Philip Swift, creator of analytics platform LookIntoBitcoin, highlighted a bull flag on Bitcoin’s Advanced NVT Signal.
Advanced NVT uses Bitcoin’s market cap and network volume to determine the extent to which BTC is overbought or oversold at a certain price point.
As Swift explains in an introduction to the metric, it builds on the original NVT, accounting for changes in investor habits as Bitcoin has matured over time.
Advanced NVT is thus the total Bitcoin market cap divided by the 90-day moving average of network transaction volume. Currently, it is “deep into oversold territory,” and when
Read more on cointelegraph.comAbout this in other media
FLUX, SFP and Badger DAO surge even as Bitcoin price falls to $47K cointelegraph.com /2 years ago
Trader who called 2017 Bitcoin price crash raises concerns over 'double top' cointelegraph.com /2 years ago
Bitcoin price aims for $52K as stocks rebound fuels bullish return cointelegraph.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
