The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Top Crypto Analyst Willy Woo Says ‘Incredible Amounts’ of BTC Buying Underway

by Daily Hodl Staff
October 24, 2020
in Bitcoin, Blockchain

Top crypto analyst Willy Woo thinks it’s an “extremely great” time to buy Bitcoin.

Woo says on Laura Shin’s Unconfirmed Podcast that BTC’s network value-to-transaction ratio (NVT ratio), which measures the utility value of Bitcoin according to the volume of transactions on the network relative to the price, is flashing a buy signal not seen since the March coronavirus price crash.

“NVT was the first on-chain signal where you could say, ‘buy here, sell there.’ Essentially, the easy way to understand is it’s the equivalent of the price-of-earnings ratio for Bitcoin. In a company, you have stock price, you have earnings. In Bitcoin, it’s a store of value asset like gold. You do not have earnings, but what we do have is underlying investor activity like new investors coming out. There’s a constant churn, and the higher you see that churn, the higher the velocity of Bitcoin moving to new investors, the more fundamental activity in the network. So it’s the ratio of the valuation, the market cap to that activity and that creates this price-earnings ratio for Bitcoin.” 

Woo says it’s a bullish indicator when you see a lot of investor activity that’s not yet reflected in price. He notes that current investor activity is “through the roof” and that has pushed the NVT ratio down, showing that BTC is as undervalued as it was during the Covid-19 price bottom in March.

“Now we’re in the same zone but it’s driven by incredible amounts of organic buying and investor activity that’s not yet reflected in the price. And we’re only seeing more activity now with the PayPal announcement and a lot more people coming in. I’m actually seeing this on the metrics right now, that there’s a lot of new participants coming in. So, yeah, it’s perfectly a great time to buy if you’re in it for the year or multiyear period.”   

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/MicroOne

Submit a Press Release

Industry Announcements

  • LandX Closes Private Round Securing Over $5 Million in Private Funding
    December 4, 2023
  • Chromia Confirms Mainnet Release in 2024
    December 4, 2023
  • CAGA Crypto – Decentralized Financial Movement Unveiled on MEXC and Bitget
    December 4, 2023
  • TMNG Tokens Successfully Listed on MEXC Crypto Exchange
    December 1, 2023
  • Sui Surpasses $150 Million in TVL, Showcasing Blistering DeFi Momentum
    November 30, 2023
  • Duelbits Announces Landmark Collaboration With Football Icon Luis Suárez
    November 29, 2023
  • BinaryX Launches AI Chat Game ‘AI Hero’ With Limited NFT Mints
    November 28, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$41,752.19
$41,752.19
2.53%
Ethereum
$2,225.49
$2,225.49
0.3%
Cardano
$0.403842
$0.403842
0.48%
XRP
$0.618292
$0.618292
1.65%
Dogecoin
$0.089849
$0.089849
2.57%

Spotlight

  • Bitcoin (BTC) About To Repeat 2020–2021 Rally to $60,000, According to Crypto Strategist
    November 27, 2023
  • ‘Decision Time’ for Ethereum Imminent, Says Crypto Analyst Benjamin Cowen – Here’s What He Means
    November 27, 2023
  • Trader Warns Chainlink (LINK) at Risk of Correction, Updates Outlook on Ethereum-Based Altcoin
    November 27, 2023
  • $524,000 Bitcoin Price Possible Over Next Four Years, According to On-Chain Analyst PlanB – Here’s Why
    November 27, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2023 The Daily Hodl