I've published an indicator which tracks NVT Signal against a dynamic 2yr long-term range.
This should hopefully assist in future valuations, as private transactions tend toward inflating NVT Signal.
tradingview.com/chart/BLX/uqh5…
![](https://pbs.twimg.com/media/EGduIGsWsAAQ5f1.jpg)
However, undervaluation can persist for long periods (see 2015-2016).
Generally speaking, as a standalone metric, NVTS is better at identifying market tops.
A small modification to a great metric in identifying over- and under-valuation in Bitcoin.
Read more below about why Bitcoin is relatively inexpensive today.
medium.com/@charleswedwar…