In theory, an answer could be given by Metcalfe’s law, which has been successfully used in telephone and mobile networks for corporate valuations. This law states that the value of a network is directly proportional to the square of the number of active users, so in the case of user development there is a so-called square growth in the value of the network. It’s also important to note that Peterson has reminded his followers more than once that his analysts of Bitcoin is based on Metcalfe’s law and should not be treated as financial advice. Also, investors and traders who are interested in learning more about the methods that Peterson uses can read all the interesting details in his informative research paper titled ‘Metcalfe’s Law as a ... Charts.Bitcoin.com also covers other statistical information like Metcalfe’s Law, the Velocity of Money, transaction size, output volume, UTXO set size, and UTXO growth. The charts are downloadable, embeddable, and press-ready so people can use Bitcoin.com’s charts for network or market data in articles or academic papers. So, if bitcoin adoption happens at a similar rate to internet adoption, then in a decade, user numbers should imply a price of seven figures… if it does follow Metcalfe’s Law. Thus far, if you squint a bit, then the bitcoin adoption graph does roughly reflect that of internet adoption. With the caveat that active wallet addresses are down ... Bitcoin is currently trading around $5400, after a horror few weeks in which it lost up to 60% of its value. So is it fairly priced or should bargain hunters snap it up at discount prices? FAIR VALUE: Metcalfe’s Law is a method of valuing the network effect of technologies and businesses, and has been used to value businesses like Tencent and Facebook. Using Metcalfe’s Law, 2020 might be the last time Bitcoin trades below $10k. On the last day of July, Bitcoin has shrugged off yesterday’s alarming news of the US economy contracting by 32.9% in the second quarter of 2020. The lack of growth of the US economy has been linked to job losses and low consumer spending brought about by the ... “Bitcoin’s price provides a transparent look at Metcalfe’s law at work,” he noted back then. Peterson noted that the value for December 31, 2020 was $10,400 which is identical to the Metcalfe value reading. So, this may point that we may be seeing a new BTC rally soon.
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