![]() Just like the old Rainbow Chart, someday it might not be correct anymore. You can not predict the price of Bitcoin with a rainbow! It is meant to be be a fun way of looking at the historical long term price movements. The Rainbow Chart is not investment advice! Past performance is not an indication of future results. Fri, - 12:00 Vladislav Sopov Finally, muchanticipated blockchain Flare has its 'canary network' released in observation mode Cover image via Read U. In the last 24 hours, the total volume of Songbird traded was R12,181,008. The value of SGB today is -28.4 lower compared to its value 7 days ago. If you have any questions, feel free to hit me up on Twitter or contact our PR Department. Songbird (SGB) is worth R0.109972 today, which is a -2.1 decline from an hour ago and a -12.8 decline since yesterday. As you can see, even in the new model we are in the lowest “Fire Sale” band, so fingers crossed! The result is this beautiful rainbow that will hopefully have a brighter future than the old one. One that is the best fit for all of Bitcoin highs (red) and one that includes only the lows (blue). The rainbow is still not a full rainbow that goes back down, because that is not how Bitcoin works!.We kept the legend labels and the colors (still no indigo)!.You can add more years to the rainbow chart.You can now zoom and pan into the chart as you like.But due to the recent events the potential trajectory for the Bitcoin Price is not as bullish as the old one.The new fit explains every move so far (the old one had a couple of wicks outside the rainbow) Songbird SGB Price: 0.009292 6.70 Market Cap 92,818,705 0.63 24h Volume / Market Cap 0.0126 Fully Diluted Market Cap 149,504,950 6.70 Volume 24h 1,170,704 23.The Rainbow Chart V2 is based on a completly new formula, fitted with data until 2022.So instead of letting the rainbow chart die or simply add more colors (indigo, ultraviolet anyone?), we remodeled the Bitcoin Rainbow Chart! So, what’s new? Since then, we have a lot of new Bitcoin price data. But after a brutal 2022 in the crypto industry it was just no longer valid. ![]() Seriously, SELL! FOMO intensifies Is this a bubble? HODL! Still cheap Accumulate BUY! Basically a Fire SaleĪs you may have noticed: The original Bitcoin Rainbow Chart is dead! The chart, which was based on a model developed in 2014, held for quite some time.
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