InvestAnswers: Crucial BTC Graphic Screaming Bullish for BTC

One important Bitcoin (BTC) chart, according to a crypto analyst that a lot of people pay attention to, shows that major bullishness is coming over the long term.

In a new video update, the host of InvestAnswers tells his 441,000 YouTube subscribers that the number of people who are connected through BTC is a sign that the king cryptocurrency will eventually cause a huge run.

Metcalfe’s law says that the value of a communications network is proportional to the square of the number of users who are connected to it.

“Basically, I have proven that 83 to 84% of Bitcoin [and Ethereum’s] price is explained by the number of daily active users, the addresses, the network effect. But if you look at this chart here, this one chart makes it very clear what will happen to the price of Bitcoin in the long run. Not hopium, just mathematics.”

Source: InvestAnswers/YouTube

The crypto strategist says that the number of Bitcoin tokens is going down, which, along with rising demand, should cause the price of BTC to go up by a lot.

“The amount of Bitcoin that is up for grabs, that amount on exchange balances and future supply for mining is really thin, and it’s heading to zero…

The number of on-chain changes is going up forever as long as the Bitcoin protocol survives and we all know that from economics 101, as demand increases and supply goes down, price goes up. It is the most basic lesson of economics.”

At the time of this writing, the top cryptocurrency by market capitalization is trading for $22,992. This is a drop of 2.5% over the last 24 hours.

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