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🔗Blockchain Fundamentals - BTC Network Momentum - Cryptorhythms

🔗Blockchain Fundamentals - Bitcoin Network Momentum by Cryptorhythms

Description

Network Momentum is a view created by PositiveCrypto which looks into the value transmitted through the Bitcoin blockchain denominated in BTC value plotted against Bitcoin`s price. It serves as a leading indicator of Bitcoin bull markets. Sufficiently high levels of value throughput is needed drive bull markets.

Network Momentum, if it was corrected for Bitcoin`s expanding token supply, would essentially be Bitcoin Velocity. In other words an inverse chart of NVT Ratio.

Bitcoin Network Momentum is another piece of the puzzle to help our understanding of Bitcoin fundamentals and their impact on price. Bitcoin Network Momentum looks at the relationship between Bitcoin’s price and the BTC value of daily transactions flowing through the blockchain.

It is important to note here that we are using the BTC daily value flowing through the blockchain, not the USD daily value which NVT Signal uses.

What we see when we look at this is that the BTC value of daily transactions acts as a leading indicator of Bitcoin’s major market phases.

Extras

We give you the option of changing the median price lookback length

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Incredible work man, thanks for sharing!
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