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shovon_dh
Bullish
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#btc Bitcoin [BTC] rallied over 68% in Q1 2024, but Q2 headwinds have eaten part of the gains. With BTC down 7% in Q2 and stuck within the $60K—$71K price range, gauging whether it is overvalued or undervalued using the Bitcoin Rainbow Chart is crucial. On a YTD (Year-to-Date) basis, BTC has added over $22K, translating to 50.3% gains. However, Q2 headwinds, including interest fears and Middle East tensions, spooked investors and partly explained last week’s drawdowns. Now that Bitcoin is back above $66K, the big question is: Is it too expensive, or is the current value a bargain?

#btc Bitcoin [BTC] rallied over 68% in Q1 2024, but Q2 headwinds have eaten part of the gains. With BTC down 7% in Q2 and stuck within the $60K—$71K price range, gauging whether it is overvalued or undervalued using the Bitcoin Rainbow Chart is crucial.

On a YTD (Year-to-Date) basis, BTC has added over $22K, translating to 50.3% gains. However, Q2 headwinds, including interest fears and Middle East tensions, spooked investors and partly explained last week’s drawdowns.

Now that Bitcoin is back above $66K, the big question is: Is it too expensive, or is the current value a bargain?

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