According to the latest on-chain data, the Bitcoin Network Value to Transactions (NVT) Golden Cross has fallen into a crucial region. What could this mean for the price of the premier cryptocurrency? What Does The Falling NVT Golden Cross Mean For Price? In a recent Quicktake post on the CryptoQuant platform, an analyst with the pseudonym Burakkesmeci revealed that the price of Bitcoin might have reached a “local bottom.” This exciting prognosis is based on the latest movement by the “NVT Golden Cross” metric. For context, the “Network Value to Transactions” ratio is an on-chain indicator that estimates the difference between the Bitcoin market capitalization and transaction volume. Typically, a high NVT value signals that an asset’s price is high compared to the network’s transaction volume, suggesting that the coin is overvalued. Related Reading: BNB Price Poised for Takeoff: Will It Be The Next to Rally? Conversely, when the value of the NVT metric is low, it implies that the coin’s market value is small relative to the transaction volume. Usually, this indicates that the ..
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