Epic Fail of Bitcoin in logarithmic Regression [Weekly]
Hi everyone,
There has been many references to the weekly logarithmic regression of Bitcoin that claimed it never failed from the time of its creation by Satoshi Nakamoto. it has been promoted on social media for a long time by serious advocates such as PlanB or many others on twitter.
But as you can see on the chart, in November of 2022 the logarithmic regression failed to support the price for the first time in Bitcoin history.
Bitcoin is relatively a new class of asset in comparison with Gold for instance and I believe one should be very cautious with it in regard to its short history, especially in times of a possible recession.
FYI, Logarithmic regression is a type of regression used to model situations where growth or decay accelerates rapidly at first and then slows over time. more in-depth elaboration of its math and logic is available at : https://heartbeat.comet.ml/a-comprehensive-guide-to-logarithmic-regression-d619b202fc8
Please manage your risk responsibly and make informed decisions.
Good luck!
There has been many references to the weekly logarithmic regression of Bitcoin that claimed it never failed from the time of its creation by Satoshi Nakamoto. it has been promoted on social media for a long time by serious advocates such as PlanB or many others on twitter.
But as you can see on the chart, in November of 2022 the logarithmic regression failed to support the price for the first time in Bitcoin history.
Bitcoin is relatively a new class of asset in comparison with Gold for instance and I believe one should be very cautious with it in regard to its short history, especially in times of a possible recession.
FYI, Logarithmic regression is a type of regression used to model situations where growth or decay accelerates rapidly at first and then slows over time. more in-depth elaboration of its math and logic is available at : https://heartbeat.comet.ml/a-comprehensive-guide-to-logarithmic-regression-d619b202fc8
Please manage your risk responsibly and make informed decisions.
Good luck!