Today news
About the same in other media
This Bitcoin price metric just hit 'oversold' for only the 7th time in 8 years
Reading now: 139
A Bitcoin (BTC) price metric which made BTC “look seriously cheap” at $56,000 is now in rare oversold territory.
In a tweet on Dec. 6, Philip Swift, Philip Swift, creator of analytics platform LookIntoBitcoin, returned to potentially bullish signals coming from Bitcoin’s Advanced NVT Signal.
Advanced NVT calculates whether Bitcoin is overbought or oversold at a certain price point using market capitalization and network volume.
In late November, when BTC/USD had already fallen to $56,000, Swift suggested that a bounce was due.
The metric subsequently continued to fall in line with spot price thanks to last Friday’s liquidation cascade. A possible plus, however, lies in the return of “oversold” cues from NVT — something which has only occurred
Read more on cointelegraph.comAbout this in other media
Analyst lists 21 factors calling for Bitcoin price upside — But just 4 bearish signals cointelegraph.com /3 years ago
ECOMI, Aragon and Ramp breakout after Bitcoin price pushes above $49K cointelegraph.com /3 years ago
Only a paper moon: Bitcoin price briefly shows $870B on CoinMarketCap cointelegraph.com /3 years ago
Show more
The website gocryptonft.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
