Bitcoin Advanced NVT Shows No Signs Of Slowing Bullish Momentum – Details

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Bitcoin Advanced NVT Shows No Signs Of Slowing Bullish Momentum – Details - NewsBTC

Quick Summary:

Although the Advanced NVT signal is presently turned downward, Kesmeci explains that as long as this metric remains above the +2xSD level, Bitcoin is likely to maintain its uptrend, indicating there is strong potential for the cryptocurrency to enter new price territory in the coming weeks. With Bitcoin surpassing its former all-time high in the past week, the premier cryptocurrency continues to look likely to attain the lofty price targets being set by several market analysts.

According to Burak Kesmeci in an X post on May 24, the Bitcoin Advanced NVT signal has recently crossed above the +2 standard deviation (+2xSD), a historically significant boundary that signals a period of bullish market strength and robust investor confidence.

Bitcoin Advanced NVT Holds Above Key Level: Bullish Continuation Remains In Play The Advanced Network Value to Transactions (NVT) metric is an on-chain valuation model that compares Bitcoin’s market cap to its daily USD transaction volume.