BitcoinLong
Miner Revenue / BTC Price Disequilibrium
Post halvening obviously miners revenue takes a big hit.
Looking at this chart, Bitcoin Price has not yet responded to bring the two back into equilibrium.
Assuming Demand can sustain a price of around $970 my target is adjusted here on this economic basis alone.
Supply will be limited to an appropriate price and fees will rise to cover costs.
There will be serious fireworks if the price isnt supported by demand.
This is just a theory and isnt advice but it supports why we are seeing a steady rise going against some technicals which would suggest a pull back.
Looking at this chart, Bitcoin Price has not yet responded to bring the two back into equilibrium.
Assuming Demand can sustain a price of around $970 my target is adjusted here on this economic basis alone.
Supply will be limited to an appropriate price and fees will rise to cover costs.
There will be serious fireworks if the price isnt supported by demand.
This is just a theory and isnt advice but it supports why we are seeing a steady rise going against some technicals which would suggest a pull back.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.