- Bitcoin’s network to value transactions ratio (NVT) has reached an all-time high
- $14,000 represents a key resistance that Bitcoin also tried to break last year
- Analysts said after $14,000 there’s very little resistance all the way to $20,000
If Bitcoin’s network value to transactions ratio (NVT) is to be taken to account, it appears the benchmark cryptocurrency has already achieved a new all-time high
Bitcoin has set a new record in terms of its network value to transactions ratio (NVT), which looks at the entire value of the Bitcoin network versus the value of transactions facilitated through it. A high NVT means the value of the network is higher than the value that is transmitted through it. This often happens when the network is experiencing high growth and when investors think they will have high returns when they put money into it.
On Tuesday, the organic valuation of