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Investors Anxiously Await Next Bitcoin (BTC) Move Amid Mixed Sentiment and Depressed Interest

Jun 14, 2019

 

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  • BTC sentiment on both an article and social basis has whipsawed in recent weeks. This could be a signal of growing uncertainty towards BTC as the benchmark coin continues to consolidate between the $7,800 and $8,500 range.  
  • Worth noting the clear cyclicality that occurs in BTC’s daily trading volume and article count. As can be seen in the tables below, BTC observes depressed volumes on Saturday and Sunday trading days (see June 9th and 10th, June 2nd and 1st, May 25th). BTC daily article counts also notably drop off on weekends.  
  • Overall interest in BTC, as measured by Google Trends data, continues to fall off from May highs and currently sits just off a 1-month low.  
  • On a Network Value to Transaction Ratio (NVT Ratio) basis, BTC appears to be fairly valued as it trades in-line with its 1-month range.  
     

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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