The hash rate of Bitcoin follows a power law of the form Hash Rate ~Price^2 and the addresses follow a power law of the form Price ~ Addresses^2.
Then, Addresses follow their own power law in time Addresses ~ time^3.
Together, then we have Price ~ time^6.
Right now the Hash Rate is following closely the power law support, a support line at 60 % the nominal power law that represents a compromise between the large bubble oscillations and the general Bitcoin long term trend.
Then, Addresses follow their own power law in time Addresses ~ time^3.
Together, then we have Price ~ time^6.
Right now the Hash Rate is following closely the power law support, a support line at 60 % the nominal power law that represents a compromise between the large bubble oscillations and the general Bitcoin long term trend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.