Altcoin News Official TheBitTimes.com

The founders of analytics firm Glassnode say that altcoins may have one last dip before they start to outperform Bitcoin (BTC). Jan Happel and Yann Allemann, who go by the handle Negentropic, tell their 63,400 followers on the social media platform X that despite a possible near-term correction many altcoins may soon start performing well. “Altcoin opportunities on the horizon. Our Bitcoin-altcoin cycle indicator shows we’re back in a BTC-dominant regime (below 50 on the chart). As Bitcoin pulls back and altcoins drop sharply, this opens up entry opportunities. If BTC breaks through resistance and the indicator moves above 50, we could see a strong altseason ahead.” Source: Negentropic/X The Bitcoin-altcoin cycle indicator measures whether traders favor altcoins over Bitcoin. Values of over 50 indicate that Bitcoin is underperforming altcoins and that the market may be entering an altcoin season. Bitcoin is trading for $68,708 at time of writin...

Bitcoin (BTC) retrieved a four-month price range above $60,000 after a two-week deviation, trading at $64,000. However, a network value indicator at an all-time high suggests Bitcoin could be overvalued in its current state. In particular, Finbold retrieved data from Santiment showing Bitcoin’s Network Value-to-Transaction (NVT) ratio reached an all-time high on July 19. The NVT indicator is often compared to the price -to-earnings (P/E) indicator for stocks, which is used for fundamental Analysis . As observed, Bitcoin’s seven-day NVT ratio is at 151 considering a $19.43 billion transaction volume at $64,100. In 2021, the Network Value-to-Transaction peaked at 58 with BTC trading at $44,800 and $106.92 billion transacted on-chain. Picks for you Gavin Newsom net worth 2024 | How much money does Governor Gavin Newsom have? ...