CandleFocus Bitcoin (BTC) Hits ATH in Crucial Metric, Data Shows
2024-12-16
Author: Content Editor
Bitcoin (BTC) has reached a significant milestone in its Q4 2024 rally, with its Energy Value metric surpassing $100,000. This achievement was predicted by Charles Edwards of Capriole Investments almost five years ago. Bitcoin Energy Value is an indicator of the BTC Proof-of-Work mining ecosystem and represents the intrinsic value of Bitcoin based on the amount of electricity used in mining. It has historically correlated with the price of BTC. Edwards' prediction of reaching $100,000 by 2025 came true two weeks earlier than expected. In addition, Bitcoin is seeing new all-time highs in various metrics, such as difficulty and hashrate. The cryptocurrency has also reached six-digit values in euros.
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