Metcalfe's law states that the value of a telecommunications network is proportional to the square of the number of connected users of the system (n2).
On this basis this Chart illustrates the journey Bitcoin has been on and it is quite clear where the journey is headed (exponentially upwards) and is the reason why i am dollar cost averaging my purchases.
It illustrates the bubble and why we are in a legitimate healthy growth - not a bubble.
Black line is BTC Market Cap
Green Area is the number of transactions.
Red line illustrates a rough equilitbrium price
Blue lines are correction periods
Im not claiming this is a new theory - just illustrating what i believe is occuring!
On this basis this Chart illustrates the journey Bitcoin has been on and it is quite clear where the journey is headed (exponentially upwards) and is the reason why i am dollar cost averaging my purchases.
It illustrates the bubble and why we are in a legitimate healthy growth - not a bubble.
Black line is BTC Market Cap
Green Area is the number of transactions.
Red line illustrates a rough equilitbrium price
Blue lines are correction periods
Im not claiming this is a new theory - just illustrating what i believe is occuring!
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www.youtube.com/watch?v=8fSp25TZ...
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Follow on Twitter @filbfilb
