Short excerpt from a YouTube video by Kosta Ouzas arguing that bitcoin's long-term price process follows a power law. The speaker claims that applying a four-year moving average to bitcoin price data causes the observed series to align with a power law, and that the moving average merely reveals an underlying power-law process rather than imposing it or providing predictive power.
And every time bitcoin continue, in fact, actually the bubble cancel in a certain sense and they leave a power law. If you take a moving average, a four years moving average, the power law and bitcoin are on top of each other. Basically, the moving average reveals the true nature of bitcoin, that is the power law. It's not the other way around. Right. Because moving average is just a calculation that you do afterwards. Right. It doesn't have any predictive power. The idea is that there is some phenomena that describes the long term process of the coin, that is the power law. And the moving average shows that.
