TechFlow news, crypto analyst Willy Woo stated in a post that according to his Bitcoin pricing model, the exponential Bitcoin bull market has not yet begun. He noted that this cycle could structurally resemble a hybrid of the strong demand seen in 2013 and the spot-market dominance observed in 2017. His model is based on a synthesis of three distinct pricing models: the VWAP price of on-chain "investor" trading volume, realized price (cost basis), and the CVDD price at which seasoned holders sell (also known as the "bottom" model).
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