Bitcoin's Yardstick Indicator Reaches Historic Low, Suggesting Undervaluation

Bitcoin's 'Yardstick' indicator has reached a historic low, indicating that the cryptocurrency's price is significantly undervalued relative to network security, according to Odaily. This metric, developed by Capriole Investments, is calculated by dividing Bitcoin's market capitalization by its hash rate and normalizing the data over two years, similar to the price-to-earnings ratio used in stock evaluations. Such extreme lows often signal the exhaustion of downward momentum and the convergence of long-term opportunities. Historically, similar situations have led to significant rebounds in Bitcoin's price.