The Bitcoin Power Law, a predictive version evolved by Giovanni Santostasi, a former physics professor, has been a hot topic among recent Bitcoin bullish momentum. The model uses mathematical and medical principles to forecast the BTC price trajectory on a log-log scale. The center formula of the Bitcoin Power Law is expressed as:
Estimated Price=A×(days from GB)n
where “GB” stands for the Genesis Block of BTC, mined on January 3, 2009, “A” is a constant (10^{-17}), and “n” is 5.8.
Fred Krueger, well-known cryptocurrency analyst, in his tweet gave a simplified version of Bitcoin Power Law whereby 147% ROI decreasing to 100% over 50 years. It appears that the return on investment for BTC is steadily decreasing, which is consistent with the model’s expectation of a stable yet declining growth rate over a long time. Fred’s statement ends on a bullish note, suggesting this projection is not bearish at all.
The Bitcoin Power Law gives a measured perspective on Bitcoin’s boom, contrasting with speculative price prediction fashions that regularly dominate cryptocurrency discussions. However, it’s critical to approach such predictions with warning. Financial markets are unpredictable, and models primarily based on beyond records cannot assure destiny effects.
Bull Market Begins: Bitcoin Analysis
The price of Bitcoin is above $61,000 and if the weekly end is around this place there will be no major obstacle remaining on the way to a new ATH. According to PlanB’s Stock-to-Flow (S2F) chart, the bull market has officially begun.
After his long layoff, PlanB, the leading crypto analyst shows that Bitcoin has made its first red dot on S2F chart – this is regarded as an official start of a 10-months-long bull market. In the next months, exciting altcoin rallies might occur.
“The accumulation phase has ended: there are no easy buying opportunities in a steadily and slowly rising market anymore. The bull market has started. If history is any indication of the future, we will see an exciting period of ~10 months, enjoy the extreme price rallies along with multiple -30% drops, PlanB said in his latest assessment.
According to Tradingview, BTC is currently trading at the price of $61981 with a market capitalization of $ 1,219.75 billion. BTC has declined slightly, 0.74% in the last 24 hours and 22% in the last 7 days.
