Bitcoin Network Momentum

source: charts.woobull.com
.

About Bitcoin Momentum

Network Momentum is a view created by PositiveCrypto which looks into the value transmitted through the Bitcoin blockchain denominated in BTC value plotted against Bitcoin`s price. It serves as a leading indicator of Bitcoin bull markets. Sufficiently high levels of value throughput is needed drive bull markets.

Network Momentum, if it was corrected for Bitcoin`s expanding token supply, would essentially be Bitcoin Velocity. In other words an inverse chart of NVT Ratio.

Liquid, Bitcoin`s first sidechain, went live 10 Oct 2018, taking volume off the main chain. Thus we can expect on-chain value throughput after this date to differ from previous baselines.

Data Source

Data for BTC value transmitted by the blockchain via Blockchain.com. This is an estimation, Blockchain.com use their own proprietary estimation method.

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: Author : @woonomic


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