Prominent Analyst: Bitcoin is Still in the Middle of a Bear Market36.41

An inverse monetary velocity pattern indicates that bitcoin bulls are wrong about the market’s next bull run.

Willi Woo, a prominent cryptocurrency market analyst, pitted the digital currency network value (or market cap) against the daily US Dollar volume transmitted through the blockchain. A proportion between the two equated into Bitcoin Network-to-Value (Bitcoin NV) Ratio, similar to P/E ratio used in equity markets.  A high Bitcoin BV indicates that the net value is exceeding the sum that is getting transmitted to Bitcoin’s payment network. It alternatively means that investors get inside an unsustainable bubble.

Original source
https://www.newsbtc.com/2018/10/27/prominent-analyst-bitcoin-is-still-in-the-middle-of-a-bear-market/

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