The Bitcoin Rainbow Chart has emerged as a universally used analytics tool that helps crypto investors and traders predict BTC’s ever-changing market trends and cycles. Bitcoin Rainbow Chart BTC Analysis Throughout the year, the price of Bitcoin has experienced several uptrends and downsides. Starting from the last three months of 2023, BTC’S price has experienced a major surge, hitting above $35,000 in October and surging past $44,000 in December. Related Reading: Here’s The Reason The Solana Price Fell 8% To $98 With the market moving up rapidly, many crypto investors and market watchers look for various crypto analytics tools to enhance their understanding of the Bitcoin market trends. The Bitcoin Rainbow Chart is one of the many analytics tools available for predicting the potential prices of BTC. This color-coded chart is a long-term valuation tool for BTC that uses a logarithmic growth curve to forecast the potential price of BTC. Source: Blockchain Center Currently, according to the rainbow chart, Bitcoin is positioned around the “Accumulate” and “Still cheap” zones. This implies that the chart is showing the best timeline to p ..
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