IITMIND: EdTech, Finance and Crypto currencies



BTC recently flashed bullish tendencies showing the Network Value to Transactions (NVT) ratio that suggested that the analysts might have a point. However, a low NVT ratio means the network is undervalued, and prices can move higher in the short term.

In case if BTC drops, the next area of interest would be $62k. At this point, open positions worth $50M could be wiped out. NVT Ratio indicates whether a cryptocurrency is overvalued or not. If the metric spikes, it means that the cryptocurrency might be overvalued relative to the transactions.

If this does not happen, the price of the coin might rise between $72k - $77k. Should the reading remain high over the coming days, Bitcoin’s price might undergo another correction again before halving, but long term impact will stay bullish.

As of now, at the time of writing this article, BTC is trading at around $63k and is down by 4.5% over the last 24 hours and has a market capitalization of $1.25 Trillion.

>> Disclaimer Risk warning:- Cryptocurrency Investment is subject to high market risk. The information on our website is for educational purposes only. Please do your own research before investing anywhere, we will not be responsible for your investment losses.

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