The value of the Bitcoin Gold Transactions (NVT) can indicate that the original has not yet increased its temperature, although its price is going to the highest new level ever (ATH).
Bitcoin Nvt Golden Cross is still outside the peak area
In QuickTake Cryptoquant mailAn analyst talked about the latest trend in NVT Golden Cross for Bitcoin. The ratio of NVT is an indication of the chain that follows the percentage between the maximum BTC market and the size of transactions.
If the benefit of the network (measuring in terms of transfer volume) is a reflection of its “real” value, this percentage can be used to judge whether the price is less than value or exaggeration.
When the index value is high, this means that the value of the network (i.e. the maximum market) is high compared to its ability to deal with coins. Such trend may be a sign that the original has become exaggerated.
On the other hand, the low indicator can indicate a field of growth in the maximum cryptocurrency market, as its value is low compared to the volume of treatment.
In the context of the current topic, the form of the NVT ratio is an indicator of attention. This scale, known as NVT Golden Cross, is a signal signal indicator similar to Bollengerer, and tells us whether the ratio value is near the top or bottom.
NVT Golden Cross compares two MAS averages to NVT in order to determine this for 10 days to measure the short -term and MA direction for 30 days for one long -term.
Now, here is a scheme that shows the trend at the Bitcon Nvt Golden Cross in the past few months:
As shown in the graph above, Bitco Nvt Golden Cross was recently as the price of cryptocurrencies rose to a new ATH. Nowadays, the index sits at a value of 1.5.
In the graph, the quantity highlighted two regions of the scale, which was important in the past. The area that exceeds 2.2 (shaded in red) is compatible with the region in which the general tops of BTC and those under -1.6 (green) are to the bottom area.
Obviously, despite the last upward trend, NVT Golden Cross has not yet been divided into the red area, a possible sign that the cryptocurrency may not be very exaggerated. Of course, this can allow an operation room to continue.
BTC price
Bitcoin recorded a new record earlier today, as its price increased briefly to 109400 dollars, bypassing the previous ATH about 109,200 dollars.
