![]() | The original Bitcoin Rainbow Chart is dead! The Bitcoin Rainbow Chart had not been adjusted since 2014 and the blue level marked the bottom in 2015, 2016, 2019, and 2020. But the 2022 bear market proved too strong. So the creator of the Bitcoin Rainbow Price Chart made a new remodeled version. What is new?
How does it work? Well "We fitted two curves. One that is the best fit for all of Bitcoin highs (red) and one that includes only the lows (blue). The rest we just interpolated. The result is this beautiful rainbow that will hopefully have a brighter future than the old one. As you can see, even in the new model we are in the lowest βFire Saleβ band, so fingers crossed!" Will this one hold? Or will it have to be refitted again? [link] [comments] |
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