On-chain value map. #Bitcoin
🟢 Green zones highlight 'fair value' periods. Around Bitcoin Halvings (both pre and post), the price often hovers in these green zones. Observe how both the entire bull market phases (marked by blue price dots for ATHs) and bottom formations deviate from the fair value range.
The value map is based on the metrics: realized cap, liquid supply and coin days destroyed.
Suppose we see a halving and then no new ATH within 18 months. What conclusions would you draw about these models?
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