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RE: Bitcoin (BTC) - Analysis UPDATE
Interesting - your C wave is actually the "intrinsic" value of BTC if you assume that Tether isn't actually backed by USD. If we assume that a lot of Tether was propping up BTC with "fake" money, then the value of BTC is actually in the ~$4.5K range. I'm optimistic that that's not actually true but interesting coincidence at least. Hopefully we can see something a bit more bullish as folks calm down and liquidity returns a bit to the market
Interesting thought, how did you come up with that calculation?
Great analysis of that here along with the research paper - https://qz.com/1196866/bitcoin-prices-could-be-40-lower-because-tether-propped-it-up/
Research paper is a bit dense but worth a flip through if you really want to understand the methodology