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Big Ideas Monday Mini: Bitcoin

FYI - For Your Innovation

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Bitcoin's Seller Exhaustion

When Bitcoin drew down 77% from its all-time high in November 2018, its market cost basis was $85 billion. And then again, when it hit $15,800 in the 2021 bull market, its market costs were $126 billion. The same pattern applies to other metrics like hash rate, long-term holder supply, and lightning network capacity. So we found that after this major threshold, the coins in the Bitcoin network develop a Lindy effect of dormancy.

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