 | What do we think about this chart? This is the bitcoin power law many bitcoiners refer to as the holy grail. What do they see? A channel the price of bitcoin hasn't moved out of which strengthens them to believe it never will. What do rational people see? A chart cooked up by some neuroscientist who believes market cycles can be modeled like brain waves. It was created in 2019, never predicted a top and "predicted" one bottom. The top channel line has a slope of 38% and the bottom one 46%. According to this chart bitcoin will consistently outperform monetary inflation by about 6 times indefinitely. When will bitcoiners realize it's impossible to outpace money creation itself? When the money used to buy something grows at 7% there is no asset that can grow faster than that because the money to do that doesn't exist yet. Anybody who still believes this chart predicts anything should get their heads out of their bottoms. [link] [comments] |
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