{"id":545827,"date":"2023-08-04T20:00:31","date_gmt":"2023-08-04T20:00:31","guid":{"rendered":"https:\/\/ktsl888.com\/?p=545827"},"modified":"2024-06-11T08:09:22","modified_gmt":"2024-06-11T08:09:22","slug":"bitcoin-nvt-shows-bearish-crossover-price-drop-incoming","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-nvt-shows-bearish-crossover-price-drop-incoming\/","title":{"rendered":"Bitcoin NVT Shows Bearish Crossover, Price Drop Incoming?"},"content":{"rendered":"

On-chain data shows the Bitcoin Network Value To Transactions (NVT) ratio has formed a bearish crossover, a sign that a decline may be imminent.<\/p>\n

Bitcoin NVT Ratio Has Formed A Historical Bearish Crossover<\/h2>\n

The “NVT ratio<\/a>” is an indicator that measures the ratio between the Bitcoin market cap and transaction volume. In simple terms, what this metric tells us is whether the asset’s price (the market cap) is fairly valued compared to the network’s ability to transact coins (the transaction volume).<\/p>\n

When the ratio has a value above 1, it means that the price may be overinflated right now, as the blockchain isn’t observing the shift of any significant amount of capital. The risk of a correction taking place generally goes up the higher the metric trends above this mark.<\/p>\n

On the other hand, the indicator being below the threshold can imply that the market cap may be undervalued currently, and thus, a price surge may be due for the asset.<\/p>\n

In the context of the current discussion, the NVT ratio itself isn’t of interest, but rather a modified form called the “NVT golden cross<\/a>” is. This metric compares the short-term moving average (MA) of the NVT ratio (10-day) to its long-term MA (30-day).<\/p>\n

As pointed out by an analyst in a CryptoQuant post<\/a>, this NVT golden cross may be forming a pattern currently that could lead to a correction in the asset’s price.<\/p>\n

The below chart shows the trend in the Bitcoin NVT golden cross and the 30-day exponential moving average (EMA) of the same over the past year:<\/p>\n

\"Bitcoin<\/p>\n

The two metrics seem to have crossed each other in recent days | Source: CryptoQuant<\/a><\/pre>\n
As displayed in the above graph, the Bitcoin NVT golden cross has been going down recently and has just crossed under its 30-day EMA. This line appears to have historically been significant for the asset, as the instances marked by the analyst shows.<\/p>\n
Related Reading: Crypto Storm Brewing: Bitcoin Vortex Indicator Flashes Buy Alert<\/a><\/div>\n
Generally, whenever the indicator has crossed below this EMA line, the cryptocurrency’s value has taken a hit. From the chart, it’s visible that this pattern has already held up a few times during this rally<\/a> so far.<\/p>\n
Naturally, if this historical precedence is anything to go by, then the current bearish crossover might also lead to Bitcoin registering a drawdown in the near future.<\/p>\n
It should be noted, though, that the crossover may not be fully confirmed yet, as the NVT golden cross has only slightly gone below the 30-day EMA so far. So it’s possible that the indicator could turn itself around in the coming days and cancel out the cross.<\/p>\n
Related Reading: Will Binance\u2019s Zero-Fee Trading Help Bitcoin And Ethereum Prices<\/a><\/div>\n
It now remains to be seen, whether the Bitcoin NVT golden cross and the 30-day EMA would keep going in the same trajectories and solidify the cross, or if the pattern would retrace.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading around $29,200, down 1% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
BTC has continued to show stagnation recently | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from mana5280 on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows the Bitcoin Network Value To Transactions (NVT) ratio has formed a bearish crossover, a sign that a decline may be imminent. Bitcoin NVT Ratio Has Formed A Historical Bearish Crossover The “NVT ratio” is an indicator that measures the ratio between the Bitcoin market cap and transaction volume. In simple terms, what this metric tells us is whether the asset’s price (the market cap) is fairly valued compared to the network’s ability to transact coins (the transaction volume). When the ratio has a value above 1, it means that the price may be overinflated right now, as the blockchain isn’t observing the shift of any significant amount of capital. The risk of a correction taking place generally goes up the higher the metric trends above this mark. On the other hand, the indicator being below the threshold can imply that the market cap may be undervalued currently, and thus, a price surge may be due for the asset. In the context of the current discussion, the NVT ratio itself isn’t of interest, but rather a modified form called the “NVT golden cross” is. This metric compares the short-term moving average (MA) of the NVT ratio (10-day) to its long-term MA (30-day). As pointed out by an analyst in a CryptoQuant post, this NVT golden cross may be forming a pattern currently that could lead to a correction in the asset’s price. The below chart shows the trend in the Bitcoin NVT golden cross and the 30-day exponential moving average (EMA) of the same over the past year: The two metrics seem to have crossed each other in recent days | Source: CryptoQuant As displayed in the above graph, the Bitcoin NVT golden cross has been going down recently and has just crossed under its 30-day EMA. This line appears to have historically been significant for the asset, as the instances marked by the analyst shows. Related Reading: Crypto Storm Brewing: Bitcoin Vortex Indicator Flashes Buy Alert Generally, whenever the indicator has crossed below this EMA line, the cryptocurrency’s value has taken a hit. From the chart, it’s visible that this pattern has already held up a few times during this rally so far. Naturally, if this historical precedence is anything to go by, then the current bearish crossover might also lead to Bitcoin registering a drawdown in the near future. It should be noted, though, that the crossover may not be fully confirmed yet, as the NVT golden cross has only slightly gone below the 30-day EMA so far. So it’s possible that the indicator could turn itself around in the coming days and cancel out the cross. Related Reading: Will Binance\u2019s Zero-Fee Trading Help Bitcoin And Ethereum Prices It now remains to be seen, whether the Bitcoin NVT golden cross and the 30-day EMA would keep going in the same trajectories and solidify the cross, or if the pattern would retrace. BTC Price At the time of writing, Bitcoin is trading around $29,200, down 1% in the last week. BTC has continued to show stagnation recently | Source: BTCUSD on TradingView Featured image from mana5280 on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":545840,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,461,17260,87452,1119,1144],"class_list":["post-545827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bearish","tag-bitcoin-nvt","tag-bitcoin-nvt-golden-cross","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin NVT Shows Bearish Crossover, Price Drop Incoming?<\/title>\n<meta name=\"description\" content=\"Data shows the Bitcoin Network Value To Transactions (NVT) ratio has formed a bearish crossover, a sign that a decline may be imminent.\" \/>\n<meta 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Verma","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g","caption":"Keshav Verma"},"description":"Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021. Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin NVT Shows Bearish Crossover, Price Drop Incoming?","url":"http:\/\/ktsl888.com\/news\/bitcoin-nvt-shows-bearish-crossover-price-drop-incoming\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-nvt-shows-bearish-crossover-price-drop-incoming\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/mana5280-rGPDLlMNFF4-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/mana5280-rGPDLlMNFF4-unsplash.jpg?fit=6510%2C4831"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bearish","bitcoin nvt","bitcoin nvt golden cross","btc","btcusd"],"dateCreated":"2023-08-04T20:00:31Z","datePublished":"2023-08-04T20:00:31Z","dateModified":"2024-06-11T08:09:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin NVT Shows Bearish Crossover, Price Drop Incoming?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-nvt-shows-bearish-crossover-price-drop-incoming\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-nvt-shows-bearish-crossover-price-drop-incoming\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/mana5280-rGPDLlMNFF4-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/mana5280-rGPDLlMNFF4-unsplash.jpg?fit=6510%2C4831\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bearish\",\"bitcoin nvt\",\"bitcoin nvt golden cross\",\"btc\",\"btcusd\"],\"dateCreated\":\"2023-08-04T20:00:31Z\",\"datePublished\":\"2023-08-04T20:00:31Z\",\"dateModified\":\"2024-06-11T08:09:22Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/08\/mana5280-rGPDLlMNFF4-unsplash.jpg?fit=6510%2C4831","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/545827"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=545827"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/545827\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/545840"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=545827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=545827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=545827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}