Bitcoin Energy Value may Help Push Price Even Higher

Bitcoin Energy Value may Help Push Price Even Higher
фото показано с : beincrypto.com

2020-6-3 11:40

There are a number of on-chain metrics that can be used to ascertain whether Bitcoin markets are bullish or bearish. Its energy value, in particular, could be signaling a bigger move ahead for BTC.

The Bitcoin Energy Value model was hypothesized by analyst and asset manager Charles Edwards, who asserted that Bitcoin’s fair value is a function of energy input, supply growth rate, and a constant representing the fiat dollar value of energy.

Edwards has noted that using this metric, Bitcoin appears to be overvalued for the first time since September 2019. He added that this could be good news because,

When EV bottoms and trends up, it is often a BIG up trend. Particularly after halving. We are already getting signs of daily EV greater than price. If this continues, expect fast recovery.

In the previous bull markets of 2013 and 2017, there were huge runs on BTC price without a corresponding increase in energy used.

The same could be starting to occur now if this pricing model is proved to be accurate. The recent move back into five figures needs to hold and ideally close above $10,500 for the trend reversal to be confirmed.

The post Bitcoin Energy Value may Help Push Price Even Higher appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 95308.25 (-0.39%)
Объем 24H $66.134b
Изменеия 24h: -0.06 %, 7d: 3.22 %
Cегодня L: $93967.9 - H: $96238.42
Капитализация $1887.784b Rank 1
Цена в час новости $ 9515.94 (901.56%)

bitcoin energy value bearish markets bullish particular

Источник: beincrypto.com

bitcoin energy → Результатов: 126


Ripple Chief Critical of Bitcoin, Ethereum ‘Wasteful’ Energy Consumption

As if there wasn’t enough tribalism within the crypto community already, Ripple’s CEO has blatantly bashed bitcoin and Ethereum for their energy consumption and carbon foot print. Bitcoin Using More Energy Than Ever A recent article in the UK’s Telegraph has claimed that one bitcoin transaction uses more energy than an average British household does in two months.

2020-3-4 12:00


Фото:

Renewable Energy Keeps Bitcoin Miners Afloat

A recently-published report suggests that more than three-quarters of Bitcoin (BTC) mining activity relies on cheap renewable energy in order to remain financially viable. The report, issued by the cryptocurrency investment firm CoinShares, reprises the points which the company’s researchers made last May, and again in November: that a significant amount of mining activity is […] The post Renewable Energy Keeps Bitcoin Miners Afloat appeared first on Crypto Briefing.

2019-3-1 20:33


Фото:

Mining One Bitcoin a Month Would Require Harvesting Body Heat from 44,000 People

In a bid to raise awareness about the crypto industry’s energy consumption, the Institute of Human Obsolescence, a Dutch organization focused on data ownership, explored the energy usage of Bitcoin and found that 44,000 would need to provide their body energy for a month in order to mine a single Bitcoin, Motherboard reported on January 3, 2017.

2018-12-27 00:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Experts Back Cardano For 500% Gains or More

Cardano's ADA token has witnessed a significant surge over the past five weeks, climbing 300% to reach near two-year highs at $1.29 - but there's plenty more where that came from top analysts say.