This Bitcoin price metric just hit 'oversold' for only the 7th time in 8 years

This Bitcoin price metric just hit 'oversold' for only the 7th time in 8 years

Advanced NVT was already hinting that Bitcoin was "seriously cheap," but has now printed a rare buy flag. A Bitcoin (BTC) price metric which made BTC “look seriously cheap” at $56,000 is now in rare oversold territory.In a tweet on Dec. 6, Philip Swift, Philip Swift, creator of analytics platform LookIntoBitcoin, returned to potentially bullish signals coming from Bitcoin’s Advanced NVT Signal.Advanced NVT deflates in Bitcoin price routAdvanced NVT calculates whether Bitcoin is overbought or oversold at a certain price point using market capitalization and network volume.In late November,....


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Bitcoin price metric demands 'strong reaction' as $56K BTC starts to look 'se...

Current limp Bitcoin price performance is not fooling analysts, as Advanced NVT Signal joins those predicting a dramatic BTC renaissance. 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.Bitcoin "deep into oversold territory"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....

Fidelity exec says Bitcoin is ‘technically oversold,’ making $40K a ‘pivotal ...

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Bitcoin price is trading well above $58,000 currently and is arguably only just beginning its bullish impulse. Prices are expected to reach hundreds of thousands per coin, and while few deny that outcome, it might not arrive as soon as some investors think. According to a de-facto on-chain tool for timing local tops and bottoms, Bitcoin risk is now at the highest potential for downside in three years. Past data shows when the metric gets […]