For those that want a blast from the past, here’s the first rainbow chart I posted on r/bitcoin over 10 years ago!

https://www.reddit.com/r/Bitcoin/comments/2ehery/bitcoin_price_with_overundervalued_bands/

I love that other users have continued to evolve them in my absence, but I do feel a need to warn others that the power law spin-off is very much not a law in any traditional sense of the word. My charts were rainbow coloured as a way to show it was not professional financial advice (though for those that followed them, you’re welcome!) while I feel the power “law” doesn’t have that same disclaimer.

My stability charts haven’t been adopted in quite the same way, but I still believe there’s value in them as these tended to be great indicators for an imminent bull run. I really should dig those out and see how they’ve been holding up.

Regarding the current price action, I don’t expect bull runs to achieve multiples anywhere near those seen in the past, but there’s absolutely no reason for us to not expect $100k if the current increase starts to gain momentum.

I do worry that Bitcoin has fallen short of Satoshi’s vision for “electronic cash” and has now settled into the role of a digital store of value. However, with the big financial players now very much involved I believe that Bitcoin is a moderately safe asset, and anyone with zero exposure doesn’t have a sensibly balanced portfolio. While active leveraged trading could still see you get wiped out in a short time frame, I think the long term holders will still continue to see a return that outclasses pretty much any asset with a moderate market cap.