Bitcoin NVT Ratio

(Ratio has been smoothed using moving averages, 14 day forward and 14 day backward facing)

Notes about NVT Ratio

NVT Ratio (Network Value to Transactions Ratio) is similar to the PE Ratio used in equity markets.

When Bitcoin's NVT is high, it indicates that its network valuation is outstripping the value being transmitted on its payment network, this can happen when the network is in high growth and investors are valuing it as a high return investment, or alternatively when the price is in an unsustainable bubble.

Bitcoin's NVT is calculated by Network Value (Market Cap) divided by the USD volume transmitted through the blockchain. The USD value transmitted is an estimation by

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: Author : @woonomic

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