Short excerpt from a YouTube video explaining that Bitcoin’s long-term price behavior follows a power-law: price is approximately proportional to time raised to a power near 6. The speaker emphasizes the simplicity and explanatory power of this single-equation description over long time scales.
In a graph like these, where you're taking the log of a price I have repeated many times, you're going to see some kind of a curve. And this is the power law, right? Power law means just as a reminder, the bitcoin price can be expressed in a very simple equation. It's amazing, actually, with a simple equation can describe this behavior of Bitcoin over the long time and basically says that the price proportional to time itself to some kind of a power, and that power is very close to 6.
