This chart attempts to draw similarities between Bitcoin during the 2013 bull market and Bitcoin today. In blue, is a way of illustrating Bitcoin's demand in relation to supply, in other words it is simply Bitcoin's total number of active addresses divided by Bitcoin's total circulating supply (addresses per coin) LOG scaled. In orange, is Bitcoin's price. If we repeat the 2013 trend then Bitcoin will approximately become $112,130.26 (3.5287 * $31,776.65) around 12/06/2021.
This is a simple analysis and is by no means a recommendation to buy or sell and is for informational purposes only. A lot of other things need to be considered such as current events, changes in addresses, supply constraints or enlargements. Thought the pattern similarities were interesting and wanted to share, hope you enjoy!
This is a simple analysis and is by no means a recommendation to buy or sell and is for informational purposes only. A lot of other things need to be considered such as current events, changes in addresses, supply constraints or enlargements. Thought the pattern similarities were interesting and wanted to share, hope you enjoy!