Bitcoin Power Law Forecasts Price Bottom Of $42,800 – Details
Bitcoin’s price performance in the last week saw a slowdown to the asset’s relief rally that began in early April. According to data from CoinMarketCap, the market price declined by 1.45% in a range-bound week, during which bulls failed to overcome a key resistance level at $82,000. Notably, the current market status has led to polarized analysis: some analysts view this opposition as a pause in a recovering market, while others are more pessimistic, predicting another major downswing, perhaps to the actual market bottom. Related Reading: Bitcoin Cannot Clear $82K – Analyst Explains How Traders Are Using Every Rally to Exit Bitcoin’s Fate In Another Potential Correction In an X post on May 15, pseudonymous seasoned analyst Titan of Crypto (@washigorira) shares an insight into Bitcoin’s market direction using the Bitcoin Power Law model V2.0, i.e., a long-term pricing model that suggests BTC’s price follows a predictable growth trend when plotted on a logarithmic scale. As seen below, t