Bitcoin (BTC), the largest cryptocurrency, hit another massive milestone in its splendid Q4, 2024, rally. Finally, its Energy Value metric hit $100,000. The timeline for this accomplishment was masterfully predicted by Capriole Investments' Charles Edwards almost five years ago.
Bitcoin Energy Value reaches epic milestone
Bitcoin Energy Value, a key metric of the BTC Proof-of-Work mining ecosystem, set a new record today, Dec. 16, 2024. For the first time ever, the indicator exceeded $100,000, as demonstrated by its author, Charles Edwards, on his X account.
Bitcoin Energy Value just cleared $100K for the first time ever pic.twitter.com/NRMf8bMSbu
— Charles Edwards (@caprioleio) December 16, 2024
Bitcoin Energy Value SMA jumped today to almost $100,500. Raw metric for the chart almost hit $105,000, as demonstrated by Edwards.
Bitcoin Energy Value is the intrinsic value of Bitcoin (BTC), as priced by raw joules of electricity into the mining network. Historically, Bitcoin Energy Value correlates with the price of BTC.
As covered by U.Today previously, Charles Edwards predicted Bitcoin Energy Value to reach $100,000 by 2025 back in early March 2020.
card
The Bitcoin Energy Value prediction came true two weeks earlier than it was predicted when BTC was worth $8,000 per coin.
Bitcoin (BTC) hits €100,000 for the first time ever
In the current bull run, Bitcoin (BTC) routinely sets new ATHs across all meaningful metrics. For instance, Bitcoin difficulty hit 108.52T, up 40% in the last 12 months.
Over the same period, the Bitcoin (BTC) hashrate almost doubled to reach an unbelievable 723.68 Ehashes per second.
Today, Dec. 16, 2024, Bitcoin (BTC) finally reached six-digit values in euros (EUR). As of press time, BTC is struggling to stay over €101,000.
