{"id":653397,"date":"2024-11-16T15:00:03","date_gmt":"2024-11-16T15:00:03","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=653397"},"modified":"2024-11-16T07:42:24","modified_gmt":"2024-11-16T07:42:24","slug":"bitcoin-nvt-golden-cross-signals-local-bottom-whats-next","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/bitcoin\/bitcoin-nvt-golden-cross-signals-local-bottom-whats-next\/","title":{"rendered":"Bitcoin NVT Golden Cross Signals ‘Local Bottom’ \u2014 What’s Next?"},"content":{"rendered":"

According to the latest on-chain data, the Bitcoin Network Value to Transactions (NVT) Golden Cross has fallen into a crucial region. What could this mean for the price of the premier cryptocurrency<\/a>?<\/span><\/p>\n

What Does The Falling NVT Golden Cross Mean For Price?<\/b><\/h2>\n

In a recent Quicktake post on the CryptoQuant platform, an analyst with the pseudonym Burakkesmeci revealed<\/a> that the price of Bitcoin might have reached a \u201clocal bottom.\u201d This exciting prognosis is based on the latest movement by the \u201cNVT Golden Cross\u201d metric.<\/span><\/p>\n

For context, the \u201cNetwork Value to Transactions\u201d ratio is an on-chain indicator that estimates the difference between the Bitcoin market capitalization and transaction volume. Typically, a high NVT value signals that an asset\u2019s price is high compared to the network\u2019s transaction volume, suggesting that the coin is overvalued.<\/span><\/p>\n

Related Reading: BNB Price Poised for Takeoff: Will It Be The Next to Rally?<\/a><\/div>\n

Conversely, when the value of the NVT metric is low, it implies that the coin\u2019s market value is small relative to the transaction volume. Usually, this indicates that the asset is undervalued and its price could still have room for upside movement.<\/span><\/p>\n

Now, the Golden Cross indicator<\/a> is a modified iteration of the NVT ratio, and it helps to mark gradual buy and sell zones in short-term trends. According to Burakkesmeci explained that when the NVT GC exceeds 2.2 (the red zone), it means that the price in a short-term trend is overheating (and the formation of a potential local top).<\/span><\/p>\n

On the other hand, the NVT Golden Cross dipping below -1.6 suggests that the price decline is wearing out, signaling a potential bottom. Burakkesmeci noted that these local tops and bottoms are regions rather than just precise levels.<\/span><\/p>\n

\"Bitcoin\"
Source: CryptoQuant<\/figcaption><\/figure>\n

As shown in the chart above, the NVT Golden Cross has crossed beneath -1.6 and is currently around -3.3, suggesting that the Bitcoin price is at a local bottom<\/a>. According to the CryptoQuant analyst, this could represent a \u201cgradual buying opportunity\u201d for investors looking to get into the market.<\/span><\/p>\n

Bitcoin Market In Extreme Greed<\/b><\/h2>\n

Investors will want to proceed with caution especially as the Bitcoin market seems to be overheating in the long term. According to another CryptoQuant analyst, the Fear & Greed Index has flagged extreme greed for the premier cryptocurrency.<\/span><\/p>\n

\"Bitcoin\"
Source: Maartunn\/X<\/figcaption><\/figure>\n

Typically, when the Fear & Greed Index moves toward one end, there is a potential for market reversal depending on the sentiment. In this case, where the market is in extreme greed<\/a>, the Bitcoin price may be about to witness a correction.<\/span><\/p>\n

Related Reading: XRP Price Rockets Upward: Bulls Poised for More Gains<\/a><\/div>\n

As of this writing, the price of BTC sits just beneath $91,000, reflecting a 3% increase in the past day. According to CoinGecko data, the market leader is up by an impressive 19% in the last seven days.<\/span><\/p>\n

\"Bitcoin\"
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView<\/a><\/figcaption><\/figure>\n
Featured image from iStock, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

According to the latest on-chain data, the Bitcoin Network Value to Transactions (NVT) Golden Cross has fallen into a crucial region. What could this mean for the price of the premier cryptocurrency? What Does The Falling NVT Golden Cross Mean For Price? In a recent Quicktake post on the CryptoQuant platform, an analyst with the pseudonym Burakkesmeci revealed that the price of Bitcoin might have reached a \u201clocal bottom.\u201d This exciting prognosis is based on the latest movement by the \u201cNVT Golden Cross\u201d metric. For context, the \u201cNetwork Value to Transactions\u201d ratio is an on-chain indicator that estimates the difference between the Bitcoin market capitalization and transaction volume. Typically, a high NVT value signals that an asset\u2019s price is high compared to the network\u2019s transaction volume, suggesting that the coin is overvalued. Related Reading: BNB Price Poised for Takeoff: Will It Be The Next to Rally? Conversely, when the value of the NVT metric is low, it implies that the coin\u2019s market value is small relative to the transaction volume. Usually, this indicates that the asset is undervalued and its price could still have room for upside movement. Now, the Golden Cross indicator is a modified iteration of the NVT ratio, and it helps to mark gradual buy and sell zones in short-term trends. According to Burakkesmeci explained that when the NVT GC exceeds 2.2 (the red zone), it means that the price in a short-term trend is overheating (and the formation of a potential local top). On the other hand, the NVT Golden Cross dipping below -1.6 suggests that the price decline is wearing out, signaling a potential bottom. Burakkesmeci noted that these local tops and bottoms are regions rather than just precise levels. As shown in the chart above, the NVT Golden Cross has crossed beneath -1.6 and is currently around -3.3, suggesting that the Bitcoin price is at a local bottom. According to the CryptoQuant analyst, this could represent a \u201cgradual buying opportunity\u201d for investors looking to get into the market. Bitcoin Market In Extreme Greed Investors will want to proceed with caution especially as the Bitcoin market seems to be overheating in the long term. According to another CryptoQuant analyst, the Fear & Greed Index has flagged extreme greed for the premier cryptocurrency. Typically, when the Fear & Greed Index moves toward one end, there is a potential for market reversal depending on the sentiment. In this case, where the market is in extreme greed, the Bitcoin price may be about to witness a correction. Related Reading: XRP Price Rockets Upward: Bulls Poised for More Gains As of this writing, the price of BTC sits just beneath $91,000, reflecting a 3% increase in the past day. According to CoinGecko data, the market leader is up by an impressive 19% in the last seven days. Featured image from iStock, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":605367,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[85117,679,93375,78790,50046],"class_list":["post-653397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin-fear-and-greed-index","tag-bitcoin-price","tag-bitcoion","tag-btcusdt","tag-nvt-ratio"],"acf":[],"yoast_head":"\nBitcoin NVT Golden Cross Signals 'Local Bottom' \u2014 What's Next?<\/title>\n<meta name=\"description\" content=\"According to the latest on-chain data, the Bitcoin Network Value to Transactions (NVT) Golden Cross has fallen into a crucial region.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. \u201cLooking\u201d is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi\u2019s favorite part - in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. \u201cThis emphasizes the intricacies of blockchain technology and the cryptocurrency market,\u201d he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.","sameAs":["https:\/\/www.linkedin.com\/in\/opeyemi-sule-027bb5227","https:\/\/x.com\/https:\/\/twitter.com\/fwOpeyemi"],"url":"https:\/\/www.ktsl888.com\/author\/oluwatosino\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin NVT Golden Cross Signals ‘Local Bottom’ \u2014 What’s Next?","url":"http:\/\/www.ktsl888.com\/news\/bitcoin\/bitcoin-nvt-golden-cross-signals-local-bottom-whats-next\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.ktsl888.com\/news\/bitcoin\/bitcoin-nvt-golden-cross-signals-local-bottom-whats-next\/"},"thumbnailUrl":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/04\/photo_2024-04-27_05-05-56.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/04\/photo_2024-04-27_05-05-56.jpg?fit=700%2C522"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Opeyemi Sule"}],"creator":["Opeyemi Sule"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin fear and greed index","bitcoin price","bitcoion","btcusdt","nvt ratio"],"dateCreated":"2024-11-16T15:00:03Z","datePublished":"2024-11-16T15:00:03Z","dateModified":"2024-11-16T15:00:03Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin NVT Golden Cross Signals ‘Local Bottom’ \\u2014 What’s Next?\",\"url\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/bitcoin\\\/bitcoin-nvt-golden-cross-signals-local-bottom-whats-next\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/bitcoin\\\/bitcoin-nvt-golden-cross-signals-local-bottom-whats-next\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/photo_2024-04-27_05-05-56.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/photo_2024-04-27_05-05-56.jpg?fit=700%2C522\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Opeyemi Sule\"}],\"creator\":[\"Opeyemi Sule\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin fear and greed index\",\"bitcoin price\",\"bitcoion\",\"btcusdt\",\"nvt ratio\"],\"dateCreated\":\"2024-11-16T15:00:03Z\",\"datePublished\":\"2024-11-16T15:00:03Z\",\"dateModified\":\"2024-11-16T15:00:03Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/04\/photo_2024-04-27_05-05-56.jpg?fit=700%2C522","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/653397","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/users\/590"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/comments?post=653397"}],"version-history":[{"count":3,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/653397\/revisions"}],"predecessor-version":[{"id":653418,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/653397\/revisions\/653418"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media\/605367"}],"wp:attachment":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media?parent=653397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/categories?post=653397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/tags?post=653397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}