Bitcoin NVT Golden Cross Gives Bottom Signal: What Happened Last 2 Times
On-chain data shows that the Bitcoin Network Value to Transactions (NVT) Golden Cross has dipped into the bottom region, which may be bullish for the asset’s price. Bitcoin NVT Golden Cross Has Seen A Sharp Decline Recently As an analyst in a CryptoQuant Quicktake post explained, the Bitcoin NVT Golden Cross is giving a bottom signal for the third time in 2024. The “NVT ratio” is an on-chain metric that keeps track of the ratio between the Bitcoin market cap and transaction volume. When the value of this metric is high, it means the asset’s value (that is, the....
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On-chain data shows the Bitcoin NVT ratio is currently flashing a buy signal, a sign that the bottom for the asset’s price might now be in. Bitcoin NVT Golden Cross Is Showing A Green Signal As pointed out by an analyst in a CryptoQuant post, the Network Value to Transactions (NVT) Golden Cross has now dipped below the -2 mark. The “Network Value to Transactions (NVT) ratio” is an indicator that measures the ratio between the Bitcoin market cap and transaction volume (both denominated in USD). When the value of this metric is high, it means that the price of the asset....
The Bitcoin golden cross, a signal that has traditionally been a bullish indicator, is now official, according to a capital manager. The Famous Bitcoin Golden Cross Now “Official” According to a capital manager on Twitter, the Bitcoin golden cross is now official. This is only the eighth time in the history of the coin that such a cross has occurred. The “golden cross” has been the topic of discussion all over the online crypto communities today, but what is it that makes it so special? Well basically, a golden cross is marked by a short-term moving average (MA)....
Today, the talk across the crypto market is that Bitcoin price is forming a Golden Cross – a potentially bullish signal according to conventional knowledge. But this is the cryptocurrency market, and anything is possible given the potential for sudden, sweeping regulation, hacks, or worse. With the Golden Cross now here, we are looking back at the history of the signal, and breaking down exactly what it means and how this could impact Bitcoin price action in the days ahead. Bitcoin Price Forms Eighth Ever Golden Cross Forget the digital gold narrative. All across crypto Twitter, online....
However, some crucial Bitcoin price levels must be broken before the bullish party can start. Bitcoin (BTC) and the cryptocurrency market had a shakeout this week as the fake news surrounding Litecoin (LTC) caused a spike in volatility. However, the structure of the market didn’t change. In fact, Bitcoin’s price might be bottoming out as a golden cross is starting to form.Next to that, the exchange reserves are hitting record lows, which is a massive signal of strength, suggesting that most investors are taking their Bitcoin from exchanges, reducing the overall supply that can be sold on....
Bitcoin NVT golden cross has recently had values that would suggest the crypto may be close to being overbought right now. Bitcoin NVT Golden Cross Has A Positive Value Currently As pointed out by an analyst in a CryptoQuant post, the NVT golden cross has now hit its highest value since the last week of […]