The price-to-network ratio is a crypto-riff on a popular metric used by traditional stock market investors called the price-to-earnings ratio, which is used to determine whether a stock is over or undervalued.
Timmer highlighted a chart of Bitcoin’s demand curve overlaid with Bitcoin’s non-zero addresses against its market cap, noting that the “price is now sitting below the network curve.”The macro analyst also shared a graph making use of Glassnode’s dormancy flow indicator, which he said suggests “how technically oversold Bitcoin is.”by comparing the price to spending behavior.
Pump it baby!
I agree with everything that that strange human analyzes 🤖
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