SebastianofMoon

The most important chart in Bitcoin: Metcalfe's law

BITFINEX:BTCUSD   Bitcoin
Sorry, I didn't know how to do it here on tradingview.
My very smart girlfriend Jixuan Wang used the program R to import and plot the real bitcoin price versus the Metcalfe price:

https://ibb.co/mFQOL9


Orange is real price from exchanges, green is Metcalfe price, which can be calculated from the number of the daily transactions squared:

P = C* T².

P=price
C= a constant, chosen such that the fit is good
T = number of daily transactions

If orange above green: BTC IS OVERPRICED
If green above orange: BTC IS UNDERPRICED


We are currently overpriced, same as in 2014/2015. This is one of the main reasons why I believe that this bearmarket will still go on for 1 more year.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.