Then today I'd guess we're in a similar position as we were in October 2016. Roughly $500-600 range back then, or half of the ATH and right on the SF model value.
Today the same price behavior is playing out but the SF model has btc at approximately $8700, thus we may be a bit over extended even still.
You may hate this model but I for one am a believer in it. At least in so much as it being a solid indicator of where the bottom is.
Would love to see a sharp move down to that $8700 level and as sharp a bounce back up. Long wick would be hugely positive in signaling the next wave up.
Anything under 10k is a gift so relax and btfd.
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