0.1.0 beta
200 Week Moving Average Heatmap
$27873.83 +0.05%
Monthly Transactions
13.79M
Transaction Count
900355141.0 +0.03%
Yearly Candles
$16,620.82
Bitcoin Dominance
47.1% -0.03%
Fear and Greed Index
44 -4.35%
Mayer Multiple
0.94 +0.00%
US vs Offshore Trading Volume
12.61%
Circulating Supply
19,497,225.0 +0.00%
Halving Countdown
0.0
Hashrate vs Price
383.32 EH/s -7.66%
Node Map
16673
Difficulty Estimator
56568855211548.5 +0.10%
Miner Revenue
$22,843,992.96 -8.19%
Network Difficulty
57.12T +0.00%
Puell Multiple
0.99 -8.23%
Exchange Trading Volume
$7.41B -17.36%
Exchange Trading Volume BTC
$2.24B -29.40%
Exchange Volume BTC Dominance
30.3% -14.56%
Monthly Exchange Volume
$238.56B
Bitcoin BTC $26,436.49
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2 messages
alon beta
Yeah bitcoin didn't really have a clear blow off top as in the previous cycles @omer
8 August 2023
omer beta
interesting that when bitcoin peaked in 2021, it wasn't even considered "Very Overvalued". Interesting to see how the next year will play out. If there is ever a time to buy, it's probably now!
7 August 2023
Rainbow stats
Extremely Undervalued
$26,220.15
Oct 2014
Trolololo
about 11 hours
Terminal Stats
0
The Bitcoin Rainbow Price Chart is based on a proposal presented in 2014 by a user named Trolololo in the Bitcoin forum, Bitcointalk.
On October 22nd, 2014, Trolololo published a post titled, “Logarithmic (non-linear) regression - Bitcoin estimated value”, in an attempt to estimate the long-term price trend-line of Bitcoin.
Trolololo introduced a logarithmic curve whose equation is as follows:
10^(3.109106 * ln((number of weeks since 2009 Jan 09)/weeks) - 8.164198)
The chart Trolololo produced looked like this:
Trolololo's 2014 v1.1 Logarithmic (non-linear) regression chart
After gaining a small buzz on Bitcointalk after posting the chart, Trolololo explained, "This logarithmic regression is way better than the linear regression. But it's just a model, not a crystal ball".
Users found the chart to be insightful in finding the tops of the bubbles and the bottoms of the bubbles, essentially modeling an estimation of the roofs and floors of next bubbles.
Colorful bands representing overvaluation and undervaluation areas of bitcoin's price performance were introduced by Reddit user azop in August 2014.
Azop used a logarithmic price scale for Bitcoin and overlayed it with colorful bands to try to find correlations.
The full "Bitcoin Rainbow Chart" model was completed later in 2018 by Über Holger by borrowing the colorful bands of Azop and applying them to Trolololo's logarithmic regression
The Rainbow Chart is meant to be a fun way of looking at long-term price movements, disregarding the "noise" of daily volatility.
It's important to note that the chart has no scientific basis and like with most models, will be correct until one day it isn’t anymore.
There are 8 bands that overlay the bitcoin log price chart.
Each band depicts a price range aptly named to convene the current market conditions. Bands like “Extremely Overvalued” and "Extremely Undervalued" are historically good indicators of what's to come in the future.
The warmer colors are related to the zones for selling BTC and taking profits, while the cooler colors represent the zones for buying BTC when the market is depressed.
You will also notice the 4-year 'halving' markers representing Bitcoin's supply halving, the unique part of Bitcoin's scarcity monetary policy.
The behavior between each of these 4-year Bitcoin cycles has shown traders potential buying and selling opportunities, which have sometimes been successful in predicting blow-off tops.
Over the years it has been found that most of the time, the Bitcoin price trend has remained within the bands of the Bitcoin Rainbow Chart, except on certain occasions, such as in the “bubbles” of 2011, 2014, and 2017.
According to Trolololo, the price of bitcoin should reach $1,000,000 on September 6th, 2026
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