Bitcoin (BTC) remains significantly below its long-term valuation trend, according to the Bitcoin Rainbow Chart, which places the cryptocurrency beneath even its lowest projected valuation band for August 31.
The indicator, tracked by CoinGlass, shows the chart’s ‘Fire Sale’ band rising to $105,087 by month-end, while Bitcoin is currently trading at $64,092. The gap highlights how far BTC remains below the levels implied by the model’s historical logarithmic growth curve.
Notably, Bitcoin would need to rally about 64% in less than a month to reach the ‘Fire Sale’ threshold.
As a result, the chart should not be interpreted as predicting a move to $105,000 by August 31. Instead, it suggests Bitcoin is trading at a substantial discount to its long-term trend.
BTC price prediction
The Rainbow Chart divides Bitcoin into several valuation zones that correspond to different stages of the market cycle and investor sentiment.
At the bottom of the scale is the ‘Fire
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