Bitcoin: Provide for the worst case
If the descending triangle continues for a month, perhaps Bitcoin price converges at less than 4,000 USD by the end of the year.
An interesting research can be found here.
technologyreview.com/s/610614/how-network-theory-predicts-the-value-of-bitcoin/
According to the generalized Metcalfe’s Law, Bitcoin is significantly overvalued, even after the crash at the end of 2017.
“Our Metcalfe-based analysis indicates current support levels for the bitcoin market in the range of 22–44 billion USD,
at least four times less than the current level,” they say.
An interesting research can be found here.
technologyreview.com/s/610614/how-network-theory-predicts-the-value-of-bitcoin/
According to the generalized Metcalfe’s Law, Bitcoin is significantly overvalued, even after the crash at the end of 2017.
“Our Metcalfe-based analysis indicates current support levels for the bitcoin market in the range of 22–44 billion USD,
at least four times less than the current level,” they say.
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.