Dr. K's Crypto-Corner
by Dr. Chris Kacher
Riding the Revolutionary Rocket with Cryptotechnologies... Entirely Evolutionary™
Odds favor bitcoin having to plumb new lows in this current bear cycle before reaching a major bottom:
Meow
Though this time, it is perhaps less dead than before:
Nevertheless, various metrics including the still reliable (with adjustments) NVT Signal show bitcoin could still break to new lows before it finds its bottom:
The recent bitcoin liquid sidechain launch will have an affect on the NVT signal since roughly half of exchanges have signed up for liquid which will move a number of on-chain transactions, off-chain. Thus the 'T' in NVT will be less pronounced in terms of upward and downward spikes that have characterized prior major tops and bottoms in bitcoin. Fortunately, there are other metrics that, when taken together, help connect the dots to complete the picture. I have discussed a number of such metrics in prior crypto reports.
Happy Holidays!
(͡:B ͜ʖ ͡:B)
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