• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: Binance.US Takes Action Amidst SEC Complaint: Delists Over 40 Trading Pairs
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Binance.US Takes Action Amidst SEC Complaint: Delists Over 40 Trading Pairs
Bitcoin Never Look Back Indicator

Bitcoin’s ‘Never Look Back’ Price Promises Steady Long-Term Gains

Emilio Janus by Emilio Janus
4 years ago
in Bitcoin, Bitcoin Price, News, News teaser
0

Amongst the wide range of charts, models and tools to map and predict bitcoin price moves is one barely-noticed metric. But Timothy Peterson, of Cane Island Alternative Advisors, has just published an article championing Bitcoin’s ‘never look back’ price.


Bitcoin Passes A Point Of No Return

The concept of the ‘never look back’ (NLB) price is simple. For each given date of Bitcoin’s existence, plot the lowest price between that point and today.

So for instance, taking 19 July 2010 as a start date, the lowest recorded price since then has been $0.05, occurring on 25 July 2010. All dates from 19-25 July 2010 would be recorded as having an NLB price of $0.05, dates after 25 July would register as having a higher NLB price.

Clearly, this chart can only go in one direction, as by definition, the price ‘never looks back’ from an NLB price. However, the interesting thing is how uniform this chart is over the ten years of Bitcoin’s existence. In the following diagram, price is plotted on a logarithmic scale, and time is plotted as a square root. (This means that 10 on the horizontal scale actually refers to day 100, 20 to day 400, and 70 to day 4900 or 18 Dec 2023)

A Strong Trend But Not A Prediction

So this chart essentially flattens out any bullish action or artificially inflated bubbles of price, leaving us with an underlying lowest level price over time. It is similar to charting the yearly low price (instead of yearly highs), but doesn’t get reset each year so can’t go back down.

In many ways it is charting the increasing numbers of HODLers of last resort, those who will not sell bitcoin at any price. These include buy-and-hold investors, accumulators, and those who intend to transact in bitcoin over the longer-term. As Bitcoin adopters, this group provides a floor value to BTC price.

Of course, this is not a model per se, and cannot be used to make any kind of prediction as to the future price of bitcoin. NLB price cannot be extrapolated in advice, after all.

Any drop in bitcoin price will alter the historic chart; how far back depending on the level of the drop.

If the price drops below a former NLB price from five years ago, then the chart will be redrawn with a flat section for the last five years, and will not show such a uniform and strong trend.

But if growth in users, hash rate, and network strength continues to be strong, then this may continue to propel the NLB price ever higher with time.

What do you make of this new Bitcoin indicator? Add your thoughts below!


Images via Shutterstock, NLB chart by Cane Island Alternative Advisors

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Emilio Janus

Emilio Janus

Related Posts

Bitcoin

Bitcoin Investors Get Robust Returns In May – How Will Binance Lawsuit Affect Their Gains?

1 day ago
Rare satoshis

Rare Satoshis: The Rising Star In Crypto After BRC-20 And Meme Coins?

2 days ago
Bitcoin Whale Shark

Bitcoin Sharks & Whales Have Bought 93,000 BTC Since April Top: Santiment

1 week ago
Bitcoin

BREAKING: Bitcoin Mining Industry Spared From 30% Tax In US Debt Ceiling Deal

1 week ago
Bitcoin

Bitcoin Taker Buy Sell Ratio At Highest Since Feb, What Does It Mean?

1 week ago
Bitcoin

Bitcoin Shrimps Continue Aggressive Accumulation As Holdings Hit ATH

1 week ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    7 days ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    7 days ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    7 days ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • Uniswap (UNI) Opt Against Charging Fees to Liquidity...

    36 mins ago
  • Investors Expect Significant Returns in TMS Network (TMSN)...

    2 hours ago
  • Price Prediction Shows Uwerx (WERX), Render (RNDR), And...

    2 hours ago
  • Rising Interest in TMS Network (TMSN), Cardano’s (ADA)...

    3 hours ago
  • AltSignals Presale Nears End of Phase One, Bringing in a...

    3 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.