New Bitcoin Yardstick says – $20K BTC now “eExtraordinarily Cheap”

If we go by the Bitcoin Yardstick, Bitcoin is now at its second lowest level in history

New Bitcoin Yardstick metric says $20K BTC now ‘extraordinarily cheap’

“The Bitcoin Yardstick measures the ratio of Bitcoin market cap to hash rate — two fundamental metrics which, when compared to one another, offer key price insights.

As Edwards explains, the lower the value, the ‘cheaper’ Bitcoin is — more hash rate is being applied to secure low-priced coins.

While he cautions that it is ‘not investment advice,’ this has implications for would-be buyers — much of the unrealized value lies in the amount of work done to secure the Bitcoin supply during price suppression.

Currently, the Bitcoin network hash rate is near all-time highs, while the price is down around 75% from its last all-time highs seen in November 2021.

‘Today we are seeing the second lowest reading for the Bitcoin Yardstick in all of Bitcoin’s history,’ Edwards commented:

‘This means that on a relative basis, Bitcoin is extraordinarily cheap given the amount of energy being used on what is the most powerful computer network in the world.’”


Master Asked on November 2, 2022 in Bitcoin.
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