) has just reentered a key price zone, which has signaled the beginning of the end for bear phases, data confirms.Bitcoin’s network value to transaction ratio metric as it delivered a new and rare “oversold” signal.Bitcoin price losses accelerated over the weekend, with the market not far off a retest of the seminal $30,000 mark prior to Monday’s Wall Street open.
Edwards subsequently tweaked the metric by adding standard deviation bands to account for natural changes in on-chain behavior as Bitcoin matures. The result was the so-called “dynamic range NVT,” and it is this incarnation that returned to its green zone this week “Valuing the Bitcoin network based on transaction value throughput suggests we have entered the value zone,” Edwards commented on Twitter alongside a print of NVT’s latest movements.“People have short memories”
$BTC vs $USDT - A comparison between the current retrace and the one back in late Spring 2021. Percentage losses for both exceeded 50%, and, in so doing, putting BTC in oversold territory. But current drawdown is as much about finding a low entry point into the market. Crypto
Minimum two (2) coordinated major crashwaves to be initiated by the Cex & whales by Lunar New Year Brace for further possible impacts Patience rewards The sun and rainbows shall emerge after the storm Bitcoin NFA
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