The funny thing about charts is that we can do whatever we want with them, just like with our lives.
Most people look at this chart:
And see that the price skyrockets every four years, only to correct sharply, like the hashrate.
Let’s see what happens when looking at the same chart on a logarithmic scale:
The price remains much tighter, like the rise in hashrate, and it seems that both flatten out:
What does this mean?
In principle, it validates the TA (Technical Analysis) from the previous bull market, with diminishing returns (1/3):
I’ve been in crypto for almost a decade and I know it’s here to stay.
You all met me here during the last bull market, and some of you might remember that I predicted one or two more bull runs.
With institutions on exchanges, CBDCs on the way, and an arsenal of regulations…
This time, I would think twice before going all-in on the BTC bull run.