{"id":482690,"date":"2022-02-02T19:00:51","date_gmt":"2022-02-02T19:00:51","guid":{"rendered":"https:\/\/uniquehot.com\/?p=482690"},"modified":"2024-06-11T14:11:09","modified_gmt":"2024-06-11T14:11:09","slug":"bitcoin-bullish-signal-nvt-ratio-btc-undervalued","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-bullish-signal-nvt-ratio-btc-undervalued\/","title":{"rendered":"Bitcoin Bullish Signal: NVT Ratio Suggests BTC Is Currently Undervalued"},"content":{"rendered":"

On-chain data shows the Bitcoin NVT ratio currently has values that would suggest the crypto is undervalued at the moment.<\/p>\n

Bitcoin NVT Ratio Is Moving On A Downtrend Right Now<\/h2>\n

As pointed by an analyst in a CryptoQuant post<\/a>, the BTC NVT ratio currently has low values that would mean the coin is undervalued right now.<\/p>\n

The “Network Value to Transactions<\/a>” (or NVT in short) is an indicator that’s defined as the ratio between the Bitcoin market cap and the transacted volume during a specific time period.<\/p>\n

Basically, the metric evaluates the value of the crypto using its transaction volume. When the NVT value is high, it means BTC is currently overvalued compared to the ability to transact coins. Such a trend can be bearish for the crypto<\/p>\n

On the other hand, when the value of the the indicator is low, it implies Bitcoin may currently be undervalued at the moment. This kind of trend can be bullish for the price of the crypto.<\/p>\n

Related Reading |\u00a0Bitcoin Market Dominance Hit Highest Since November 2021, No Alt Season in Sight<\/a><\/strong><\/em><\/p>\n

Now, here is a chart that shows how the value of the BTC NVT ratio has changed over the past year:<\/p>\n

\"Bitcoin<\/p>\n

The value of the metric seems to be on a downtrend right now | Source: CryptoQuant<\/a><\/pre>\n
As you can see in the above graph, the Bitcoin NVT ratio has been on a downtrend for a while now, and the metric currently has a low value.<\/p>\n
Related Reading |\u00a0Bloody Altcoin January Shows Why Bitcoin Remains The Crypto Safe Haven<\/a><\/em><\/strong><\/p>\n
Historically, such a downtrend in the indicator has usually been followed by an uplift in the price of the cryptocurrency.<\/p>\n
The current value means that Bitcoin is undervalued at the moment, and if past pattern related to the downwards trajectory holds, then the outcome may be bullish<\/a> for the price of the crypto in the near term.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin’s price<\/a> floats around $38.6k, up 2% in the last seven days. Over the past month, the crypto has lost 18% in value.<\/p>\n
The below chart shows the trend in the price of BTC over the last five days.<\/p>\n
\"Bitcoin<\/p>\n
BTC's price seems to be holding strong around the $38k price mark | Source: BTCUSD on TradingView<\/a><\/pre>\n
Since the crash to $33k, Bitcoin has shown some recovery, and has held above the $38k level in the last few days. Currently, it’s unclear if the bottom is in, or if the the value of the crypto will further drop still.<\/p>\n
However, if the NVT ratio is anything to go by, BTC may be undervalued right now, and thus its outcome may be bullish in the near future.<\/p>\n
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows the Bitcoin NVT ratio currently has values that would suggest the crypto is undervalued at the moment. Bitcoin NVT Ratio Is Moving On A Downtrend Right Now As pointed by an analyst in a CryptoQuant post, the BTC NVT ratio currently has low values that would mean the coin is undervalued right now. The “Network Value to Transactions” (or NVT in short) is an indicator that’s defined as the ratio between the Bitcoin market cap and the transacted volume during a specific time period. Basically, the metric evaluates the value of the crypto using its transaction volume. When the NVT value is high, it means BTC is currently overvalued compared to the ability to transact coins. Such a trend can be bearish for the crypto On the other hand, when the value of the the indicator is low, it implies Bitcoin may currently be undervalued at the moment. This kind of trend can be bullish for the price of the crypto. Related Reading |\u00a0Bitcoin Market Dominance Hit Highest Since November 2021, No Alt Season in Sight Now, here is a chart that shows how the value of the BTC NVT ratio has changed over the past year: The value of the metric seems to be on a downtrend right now | Source: CryptoQuant As you can see in the above graph, the Bitcoin NVT ratio has been on a downtrend for a while now, and the metric currently has a low value. Related Reading |\u00a0Bloody Altcoin January Shows Why Bitcoin Remains The Crypto Safe Haven Historically, such a downtrend in the indicator has usually been followed by an uplift in the price of the cryptocurrency. The current value means that Bitcoin is undervalued at the moment, and if past pattern related to the downwards trajectory holds, then the outcome may be bullish for the price of the crypto in the near term. BTC Price At the time of writing, Bitcoin’s price floats around $38.6k, up 2% in the last seven days. Over the past month, the crypto has lost 18% in value. The below chart shows the trend in the price of BTC over the last five days. BTC’s price seems to be holding strong around the $38k price mark | Source: BTCUSD on TradingView Since the crash to $33k, Bitcoin has shown some recovery, and has held above the $38k level in the last few days. Currently, it’s unclear if the bottom is in, or if the the value of the crypto will further drop still. However, if the NVT ratio is anything to go by, BTC may be undervalued right now, and thus its outcome may be bullish in the near future. Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":482696,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,11680,17260,1119,1144],"class_list":["post-482690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bullish","tag-bitcoin-nvt","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Bullish Signal: NVT Ratio Suggests BTC Is Currently Undervalued<\/title>\n<meta name=\"description\" content=\"On-chain data shows the Bitcoin NVT ratio currently has values that would suggest the crypto is undervalued at the moment. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Bullish Signal: NVT Ratio Suggests BTC Is Currently Undervalued","url":"http:\/\/uniquehot.com\/news\/bitcoin-bullish-signal-nvt-ratio-btc-undervalued\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-bullish-signal-nvt-ratio-btc-undervalued\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/02\/dylan-leagh-qnVXHhUP0xU-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/02\/dylan-leagh-qnVXHhUP0xU-unsplash-scaled.jpg?fit=2560%2C1707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bullish","bitcoin nvt","btc","btcusd"],"dateCreated":"2022-02-02T19:00:51Z","datePublished":"2022-02-02T19:00:51Z","dateModified":"2024-06-11T14:11:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Bullish Signal: NVT Ratio Suggests BTC Is Currently Undervalued\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-bullish-signal-nvt-ratio-btc-undervalued\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-bullish-signal-nvt-ratio-btc-undervalued\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/02\\\/dylan-leagh-qnVXHhUP0xU-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/02\\\/dylan-leagh-qnVXHhUP0xU-unsplash-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bullish\",\"bitcoin nvt\",\"btc\",\"btcusd\"],\"dateCreated\":\"2022-02-02T19:00:51Z\",\"datePublished\":\"2022-02-02T19:00:51Z\",\"dateModified\":\"2024-06-11T14:11:09Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/02\/dylan-leagh-qnVXHhUP0xU-unsplash-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/482690"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=482690"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/482690\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/482696"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=482690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=482690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=482690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}