• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Changelly
  • Price table

Crypto News PRO

From the world all news

  • Home
  • News

According To Analyst Willy Woo, Bitcoin Bull Rally Yet To See Peak

Written by:
Aeon Flux
Published on:
8 January 2021
Thoughts:
No comments yet

The Crypto Basic

Cryptocurrency analyst Willy Woo said the Bitcoin bull rally had not yet reached its peak. Woo compared it to the bull run in 2017.

Willy Woo said the value of Bitcoin NVT premium has not yet reached the bull rally levels of 2017, so the bull run currently taking place has not yet peaked. The analyst explained his analysis, referring to NVT and NVT premium values.

This rally is warm but not yet overheated.

This is how much “speculative premium” we have right now compared to a similar phases of the prior 2 bull markets. pic.twitter.com/cWTUL3Fs9R

– Willy Woo (@woonomic) January 6, 2021

Bitcoin bull rally yet to peak

The NVT (Network Value to Transactions Ratio) value, developed by analyst Willy Woo and Coin metrics, is obtained by dividing the Bitcoin market value by the total USD trading volume on the BTC network. The high value of NVT can be interpreted as a sign that investors are starting to hold the Bitcoin they own, according to woo.

The NVT premium value shown in Woo’s recent analysis is obtained by the ratio of the speculative market price to the market price driven by investors. At this value, Bitcoin is currently in a speculative phase. Willy Woo showed that the value of NVT premium, which he called speculative in its comparison with the previous two bull rallies, had not yet reached the value seen in 2017.

“The rally has not yet peaked,” the analyst said, as the NVT premium value has not yet reached the level in the 2017 bull rally.

Woo commented on the speculative premium value, which ran above normal from 2018 to 2019. At that time, the BitMEX cryptocurrency exchange was leading the rise in crypto derivatives trading, Woo continued:

Later tamed by spot dominance as Michael Saylor lead the charge on spot buying.

Originally published at https://thecryptobasic.com on January 7, 2021.

Categories: Bitcoin, News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Search in the news

Translate:

Earn up to 5% every 10 days with Aeon Flux Coins

Categories

  • Bitcoin (1,503)
  • Ethereum (950)
  • News (2,691)

Recent Posts

  • 5 Bitcoin and Altcoin Exchanges Without KYC & AML 9 March 2021
  • Why I Became A Real Estate Agent At 19 In The Middle Of A Pandemic 9 March 2021
  • 4 Ways You Can Start Building Your Wealth in Your Teens 8 March 2021
  • Know What drives the bull and bear market to take advantage of the money-making opportunities 8 March 2021
  • Dogecoin price prediction; will it have a bullish trend, or will it fall? 8 March 2021

Archives

  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020

© 2015-2020 Crypto News PRO
All Rights Reserved. Powered by IWG Agenzia Web