Bitcoin NVT Golden Cross Signals ‘Local Bottom’ — What’s Next?

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Bitcoin NVT Golden Cross Signals ‘Local Bottom’ — What’s Next? - NewsBTC

Quick Summary:

In a recent Quicktake post on the CryptoQuant platform, an analyst with the pseudonym Burakkesmeci revealed that the price of Bitcoin might have reached a "local bottom.” This exciting prognosis is based on the latest movement by the "NVT Golden Cross” metric.

As shown in the chart above, the NVT Golden Cross has crossed beneath -1.6 and is currently around -3.3, suggesting that the Bitcoin price is at a local bottom.

According to the latest on-chain data, the Bitcoin Network Value to Transactions (NVT) Golden Cross has fallen into a crucial region.