If the descending triangle continues for a month, perhaps Bitcoin price converges at less than 4,000 USD by the end of the year. An interesting research can be found here.
technologyreview.com/s/610614/how-network-theory-predicts-the-value-of-bitcoin/ According to the generalized Metcalfe’s Law, Bitcoin is significantly overvalued, even after the crash at the end of 2017. “Our Metcalfe-based analysis indicates current support levels for the bitcoin market in the range of 22–44 billion USD, at least four times less than the current level,” they say.
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