Charts suggest bitcoin is undervalued

A very friendly-looking bitcoin (BTC) model called the “Bitcoin Rainbow” chart would have you believe that bitcoin is severely undervalued — but what do the fundamentals say? Blockchain Center’s Bitcoin Rainbow chart is currently screaming “BUY!” after BTC’s price started to come out of the “basically a fire sale” area where it had consolidated for some time. Still, the website explains that the team “fitted two curves” one of which “is the best fit for all of bitcoin highs (red) and one that includes only the lows (blue).” Bitcoin’s Rainbow Chart | Courtesy of Blockchain Center Another popular bitcoin model