CEX.IO lead analyst Ilia Oustimov stated that traders should "buy the dip" on Bitcoin (BTC) as the network value-to-Metcalfe ratio (NVT) has given a buy signal. The NVT ratio compares the market capitalization of a cryptocurrency to its transaction volume. A high NVT ratio can indicate that a cryptocurrency is overvalued, while a low NVT ratio can indicate that it is undervalued. The NVT ratio for Bitcoin has been declining since the start of the year, which suggests that the cryptocurrency is undervalued at current prices. Oustimov believes that the current NVT ratio is a "generational buying opportunity" for Bitcoin. "The NVT ratio is a powerful indicator that has historically been very accurate in predicting Bitcoin's price movements," Oustimov said. "The current NVT ratio is at a level that has only been seen a few times in Bitcoin's history. This is a generational buying opportunity for Bitcoin." Oustimov's comments come as Bitcoin is trading below $20,000. The cryptocurrency has been in a downtrend since November 2021, when it reached an all-time high of nearly $69,000.