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Categories:

Hot right now:

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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Bitcoin power-law model projects $100K value before January 2025

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Quick Take

The Bitcoin (BTC) Power-Law Model, coined by Giovanni Santostasi, provides a mathematical description of BTC’s price movements, revealing a power-law distribution on a log-log scale.

This model proposes a relationship between time and price to anticipate BTC’s long-term price trajectory, indicating a robust historical correlation. However, its predictive capabilities for future price movements are limited due to the absence of assumptions about broader markets and external factors. While it is an excellent indicator of BTC’s past growth, its effectiveness in forecasting future price trends is constrained.

Power Law Model: (Source: Glassnode)
Power Law Model: (Source: Glassnode)

Currently, the BTC price is hovering just below $66,000, while the power law model suggests fair value should be around $68,270 – a relatively close approximation. Interestingly, during March and parts of April, the Bitcoin price slightly exceeded the model’s predictions, a feat not seen since May 2022.

Power Law Model - May 2023- May 2024: (Source: Glassnode)
Power Law Model – May 2023- May 2024: (Source: Glassnode)

Giovanni’s spiral view adaptation of the model assumes that the BTC price will gravitate towards the $100,000 mark slightly before January 2025. Giovanni says:

“The real bull market is 2 hours ahead of us (or about 240 days)”.

Image

Bitcoin would need to appreciate by approximately 54% to reach $100,000; currently, it is up 46% year-to-date.

The post Bitcoin power-law model projects $100K value before January 2025 appeared first on CryptoSlate.

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