Bitcoin Power Law Points to $400,000 Long Term
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Bitcoin is trading at $62,557, below its power law fair value of $134,761 and the lower band of $67,380, with a realized price of $53,600. Analyst Mark Harvey points to a power law upper band at $404,283, implying a potential long-term rally toward $400,000 based on historical recoveries when BTC was similarly undervalued, making this a bullish crypto price signal.
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- Bitcoin trades below the power law fair value of $134,761 and lower band of $67,380.
- Power law upper band sits at $404,283, a level Bitcoin has reached multiple times historically.
- Bitcoin has never bottomed without trading below the realized price, currently sitting at $53,600.
At the time of publication, Bitcoin is trading at $62,557, below its power law fair value of $134,761 and beneath the lower band of $67,380. According to analyst Mark Harvey, Bitcoin has rarely deviated this far from the power law model. Each time it reached this level of undervaluation relative to the model, a significant recovery followed.
The upper band currently sits at $404,283, suggesting that a rally toward the top of the power law range would place Bitcoin above $400,000.
The Long-Term Case
The analyst shared the power law chart with a straightforward observation. Bitcoin is …
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