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Bitcoin (BTC) Network Value to Transaction Ratio Falls Near 1-Month Low Despite Price Rally

May 17, 2019

 

Better Research, Better Investments.Better Research, Better Investments.
Better Research, Better Investments.Better Research, Better Investments.

 

  • Very interesting to see that Bitcoin's (BTC) Network Value to Transaction Ratio (NVT Ratio) steadily fell lower despite the coin rallying over the last week. A lower NVT ratio suggests a cheaper value for a coin relative to its network activity. This suggests that during the recent rally in cryptos, network activity growth outpaced that of the network's value. 
     
  • BTC sentiment looks to be broadly positive amid the coin's general rally over the last week. Overnight Thursday into Friday, however, BTC sold off and fell as much as 10.48% to a low of $7,179.52. Will be interesting to see how sentiment holds up for the benchmark coin over the next week. 
     
  • Worth noting that BTC trading volumes through this rally appear extremely healthy, reaching a peak of more than 500,000 BTC traded earlier this week. 

 

Bitcoin (BTC) Volume - Last 30 Days

Bitcoin (BTC) Volume - Last 30 Days

Average Bitcoin (BTC) Article Sentiment - Last 30 Days

Average Bitcoin (BTC) Article Sentiment - Last 30 Days

Bitcoin (BTC) Article Count - Last 30 Days

Bitcoin (BTC) Article Count - Last 30 Days

 

 

We Crunch the Numbers, You Make the Trade.We Crunch the Numbers, You Make the Trade.
We Crunch the Numbers, You Make the Trade.We Crunch the Numbers, You Make the Trade.

 

Overall Bitcoin (BTC) Social Sentiment - Last 30 Days

Overall Bitcoin (BTC) Social Sentiment - Last 30 Days

Bitcoin (BTC) Google Trends - Last 30 Days

Bitcoin (BTC) Google Trends - Last 30 Days

Bitcoin (BTC) Network Value to Transaction Ratio - 10-Day EWMA - Last 30 Days

Bitcoin (BTC) Network Value to Transaction Ratio - 10-Day EWMA - Last 30 Days

 

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Crypto Model PortfoliosCRYPTO INVESTING MADE SIMPLE