{"id":1789,"date":"2024-05-16T02:00:09","date_gmt":"2024-05-16T02:00:09","guid":{"rendered":"https:\/\/cryptd.in\/bitcoin-not-out-of-danger-yet-nvt-golden-cross-warns\/"},"modified":"2024-05-16T02:00:09","modified_gmt":"2024-05-16T02:00:09","slug":"bitcoin-not-out-of-danger-yet-nvt-golden-cross-warns","status":"publish","type":"post","link":"https:\/\/cryptd.in\/bg\/bitcoin-not-out-of-danger-yet-nvt-golden-cross-warns\/","title":{"rendered":"Bitcoin Not Out Of Danger Yet, NVT Golden Cross Warns"},"content":{"rendered":"

On-chain data shows the Bitcoin Network Value to Transactions (NVT) Golden Cross still has a high value, a sign that may be bearish for BTC.<\/p>\n

Bitcoin NVT Golden Cross Is Still Near Historical Top Zone<\/h2>\n

In a CryptoQuant Quicktake post<\/a>, an analyst discussed the recent trend in the NVT Golden Cross for BTC and its implications for the price.<\/p>\n

\u0421\u0430\u0439\u0442\u044a\u0442 NVT ratio<\/a> is an indicator that tells us about how the Bitcoin market cap compares against its transaction volume<\/a>. The metric is generally used to judge whether the asset\u2019s price is fair or not right now.<\/p>\n

When the indicator\u2019s value is high, it suggests the network\u2019s value (that is, the market cap) is high compared to its ability to transact coins (the volume). Such a trend implies that the asset may be overpriced currently.<\/p>\n

On the other hand, the low metric means the cryptocurrency\u2019s price may be undervalued due to a rebound as the market cap is low compared to the volume.<\/p>\n

In the context of the current topic, the NVT ratio itself isn\u2019t of interest; rather, it is a modified form called the NVT Golden Cross<\/a>. This metric compares the short-term trend (the 10-day moving average) with the long-term trend (30-day MA) of the NVT ratio to identify tops and bottoms.<\/p>\n

Here is a chart that shows the trend in this Bitcoin indicator over the past couple of years:<\/p>\n

In the graph, the quant has highlighted the two relevant zones for the Bitcoin NVT Golden Cross. It would appear that when this metric is above 2.2, a top can be probable for the cryptocurrency as its price is overvalued in this zone. Similarly, the NVT Golden Cross being under -1.6 can lead to a bottom formation for the asset.<\/p>\n

The Bitcoin NVT Golden Cross has ventured into the red territory for the last couple of months. Each time it has seen a decline out of the zone, it has followed up with another rise into the zone. As such, it hasn\u2019t been able to visit the bullish region yet.<\/p>\n

At present, the metric has just made another exit out of the top zone, but its value is still quite near it. Thus, while a top may not be especially probable now, a lasting uptrend is also unlikely to happen.<\/p>\n

It\u2019s possible that Bitcoin won\u2019t be completely out of danger of observing more price drawdowns until the NVT Golden Cross can see a decrease in the green zone.<\/p>\n

It now remains to be seen how the indicator develops in the near future and whether its changes will affect the BTC price.<\/p>\n

BTC Price<\/h2>\n

At the time of writing, Bitcoin is floating around the $64,900 mark, up more than 4% over the past week.<\/p>","protected":false},"excerpt":{"rendered":"

On-chain data shows the Bitcoin Network Value to Transactions (NVT) Golden Cross still has a high value, a sign that may be bearish for BTC. Bitcoin NVT Golden Cross Is Still Near Historical Top Zone In a CryptoQuant Quicktake post, an analyst discussed the recent trend in the NVT Golden Cross for BTC and its […]<\/p>\n","protected":false},"author":0,"featured_media":1790,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nBitcoin Not Out Of Danger Yet, NVT Golden Cross Warns - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/bg\/bitcoin-not-out-of-danger-yet-nvt-golden-cross-warns\/\" \/>\n<meta property=\"og:locale\" content=\"bg_BG\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Not Out Of Danger Yet, NVT Golden Cross Warns - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"On-chain data shows the Bitcoin Network Value to Transactions (NVT) Golden Cross still has a high value, a sign that may be bearish for BTC. 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