$BTC 🔥【Bitcoin NVT Golden Cross, Pay Attention to This Indicator! 】

Bitcoin NVT Golden Cross will signal a bottom for the third time in 2024. The "NVT Ratio" is an on-chain indicator that tracks the ratio between Bitcoin's market value and trading volume.

When the value of this indicator is high, it means that the value of the asset (i.e., market value) is high compared to the network's ability to trade currency (trading volume), and this trend may mean that the BTC price is overvalued.

Low indicators indicate that the market value is low compared to the transfer volume, so the price of the cryptocurrency may still have room to rise.

In the context of the current topic, a modified version of the NVT ratio is the actual correlation indicator: the NVT Golden Cross. This indicator compares the short-term trend of the indicator with the long-term trend to determine the emergence of local tops and bottoms in the NVT ratio.

More specifically, the 10-day moving average (MA) represents the short-term trend and the 30-day moving average represents the long-term trend. The indicator has recently plummeted as the price of Bitcoin itself has plummeted. The indicator has entered the latter area, indicating that the coin may be undervalued.

In summary, if you only look at this indicator, it means that the subsequent Bitcoin trend is good, but market fluctuations are affected by many factors, so you can just refer to it.