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Bitcoin Sentiment Improves while Network Value to Transaction Ratio Hits 1-Month Low

Apr 26, 2019

 

  • Bitcoin's (BTC) Network Value to Transaction Ratio continued to fall throughout the course of the week to a 1-month low, suggesting that the benchmark coin is valued at the "cheapest" in a month relative to its network activity. 
     
  • Bitcoin (BTC) observed a brief spike in Google Trend Searches on Tuesday, 4/23/2019, likely driven by BTC briefly touching a 2019 high in that day of trading. While there is notable correlation between the price of BTC and Google Trend Searches, the sentiment metric is seen as more of a trailing indicator rather than a leading one. 
     
  • Overall sentiment related to Bitcoin (BTC), both on a social sentiment basis and an article sentiment basis, appears to have steadily improved over the course of the week. 

Bitcoin (BTC) Article Count

Bitcoin (BTC) Article Count

Average Bitcoin (BTC) Article Sentiment

Average Bitcoin (BTC) Article Sentiment

Overall Bitcoin (BTC) Social Sentiment

Overall Bitcoin (BTC) Social Sentiment

Bitcoin (BTC) Google Trends

Bitcoin (BTC) Google Trends

Bitcoin (BTC) Network Value to Transaction Ratio - 10-Day EWMA

Bitcoin (BTC) Network Value to Transaction Ratio - 10-Day EWMA

Bitcoin (BTC) Volume

Bitcoin (BTC) Volume