Bitcoin poised for new all-time highs as NVT indicator signals bullish trend
- Bitcoin’s network value to transaction golden cross (NVT-GC) indicates a healthy uptrend, currently in neutral territory.
- Previous NVT-GC dips into the long zone have historically preceded significant price increases for BTC.
- CryptoQuant research suggests Bitcoin could reach $150,000 by Q4, with a potential price expansion starting at $117,000.
- The most recent long signal from NVT-GC occurred in July when it reached -2.8 before rebounding to current levels.
- BTC is currently above its short-term realized price, indicating consolidation before a possible push to all-time highs.
The NVT-GC tool’s favorable position suggests that Bitcoin is not in bubble territory and has room for further price growth. This aligns with historical patterns that indicate ongoing bullish momentum in the market.
With Bitcoin showing signs of a healthy uptrend and targets set between $120,000 and $150,000, analysts are optimistic about upcoming price movements.(Source)
