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$BTC: Introducing @coinmetrics' brand new transaction volume estimates. (Shoutout to @nic__carter, @khannib, and @panekkkk for the data.)
A thread on why it is so beautiful, at least from an analyst's perspective...
1/ Velocity—a.k.a. inverse NVT ratio (7-day median smooth):
A thread on why it is so beautiful, at least from an analyst's perspective...
1/ Velocity—a.k.a. inverse NVT ratio (7-day median smooth):
2/ Are those bottom signatures? You tell me.
A caveat here on the latter: although I believe the zone does denote capitulation on-chain, don't forget about Coinbase's 5% supply move last December.
A caveat here on the latter: although I believe the zone does denote capitulation on-chain, don't forget about Coinbase's 5% supply move last December.
3/ Most important, confirmation signatures.
If velocity finally goes to the green zone, the consecuent rip will make yesterday's move look minor in comparison. Keeping an eye on this.
If velocity finally goes to the green zone, the consecuent rip will make yesterday's move look minor in comparison. Keeping an eye on this.
4/ Clear divergences with price denote leads on the primary trend. Currently trending up after bottoming out in September.
5/ Still too little history to make definite conclusions, but Bitcoin velocity seems to be in the beginning phase of its third cycle as a mature asset with consistent internal economics.
The fact that more economists aren't interested in this stuff is flabbergasting to me.
The fact that more economists aren't interested in this stuff is flabbergasting to me.
6/ BTW, @woonomic, @MustStopMurad, and I have been getting a bunch of requests on the current state of the market.
All I can say for now is that a bunch of new stuff is coming. We have been hard at work writing this stuff up but BTC never rests!
All I can say for now is that a bunch of new stuff is coming. We have been hard at work writing this stuff up but BTC never rests!
