Both the (4th) Rainbow Chart and Power Law chart failed this week. Only the Diminishing Returns theory has survived every cycle.
As of this week, both the [Bitcoin Power Law chart](https://charts.bitbo.io/long-term-power-law/) and the [Bitcoin Rainbow chart](https://www.blockchaincenter.net/bitcoin-rainbow-chart/) (now on its 5th version) have broken through the bottom. Both of them have always grossly overestimated BTC price and underestimated the **diminishing returns** of …