After the cryptocurrency industry Cryptocurrency has finally crossed the $1 trillion mark in the market. Crypto assets also appear to be moving positively, including Bitcoin (BTC), leading some experts to speculate on Bitcoin’s future next month.
The crypto analyst pointed out that the BTC price is likely to make a big move soon, pointing out that the Bitcoin price has risen more than 450% over the past three years.
analyst Chris Burniske and Willy Woo It uses Network Value to Transactions (NVT) analysis technique, which analyzes the relationship between MarketCap and Transfer Volume.
The NVT Signal (NVTS) is adjusted to the NVT Ratio by analyzing the 90-day MA of the daily trading volume.
Is the crypto market set to skyrocket?
Previously, analysts Mustache In a post that Bitcoin could hit $30,000 in 2023, PlanB analysts pointed out that Bitcoin is likely to set up a surge in November.
Bitcoin Whale is still holding Bitcoin, not selling because looking at the data, the supply of Bitcoin token has not changed much.
CryptoQuant analyst Dan Lim said:
“Even though the market is not moving, it is clear that the market will return to an uptrend if traders buy, it might be profitable in the future.”
Bitcoin price is now $20,357.57 over the past 24 hours, down 1.59% and +5% over the past 7 days, according to CoinMarketCap.
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