It's near the bottom of the Power Law, and historically it's been more expensive 95.6% of the time compared to now, you get what I mean?

POWER7.23%
View Original
CoinNetwork
Bitcoin drops to the lowest Power Law valuation range since the FTX collapse
According to CoinCircle, after Bitcoin briefly dipped below $66,000 on Wednesday, it is currently trading at $66,924.57, close to the bottom of the Power Law corridor. The model was promoted by physicist Giovanni Santostasi and refined by Porkopolis Economics, showing that Bitcoin’s price vs. time follows a naturally decelerating upward trend on a logarithmic scale. According to Checkonchain data, the Power Law oscillator indicates that Bitcoin’s price has been above the current level during about 95.6% of its trading history. Historically, when the price falls back to this level, it is often accompanied by extreme market stress, including the selloff triggered by the pandemic in March 2020 and the FTX collapse in November 2022. Although Power Law does not guarantee the bottom will hold again, long-term investors believe the current price is near
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments