The cryptocurrency (BTC) has just re-entered a key price zone that has signaled the beginning of the end of previous bearish phases, data confirms.
In a tweet on Jan. 24, Charles Edwards, founder of cryptocurrency investment firm Capriole, pointed to the network value-to-transactions (NVT) ratio metric as it gave a rare new sign of “oversold”.
- Bitcoin Records All-Time High Network Difficulty Amid Price Fluctuations
NVT says it’s time to turn things around Bitcoin price losses accelerated over the weekend, with the market not far from retesting the seminal $30,000 mark ahead of Wall Street’s open on Monday .
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