sanfranciscoexoticlamenu

August 2, 2024, 7:34

💰 Bitcoin power law model suggests $30K floor, $1M potential this cycle

Giovanni Santostasi’s Bitcoin Power Law model suggests Bitcoin’s price will not fall below $30,000 again, indicating a floor for future valuations. The model shows Bitcoin’s price trajectory will continue to rise, with its current ‘fair price’ at $86,339 and potential ceiling at $332,543. As depicted in the charts from Bitbo, the model uses linear regression to establish support and resistance bands, which have historically contained Bitcoin’s price movements.

Source

@Bitcoin_Ethereum_Altcoins

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