New Bitbo Chart

Fees per day

Author

Jordan Tuwiner
November 20, 2024

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Bitbo is excited to announce our newest chart:

This chart is a historical look at the Bitcoin fees per day.

How to Interpret

The orange line is the average fees per day.

The green line is the average fees per day in USD.

These are shown as a 30-day moving average to smooth out the data.

The raw data that's not smoothed by a 30-day moving average is also hidden by default, but can be turned on by clicking on the legend.

Why is it useful?

Bitcoin fees in USD often spike during Bitcoin bull markets.

Miners may also be interested in using this chart to estimate future earnings.

New Bitbo Pro Chart

This chart shows three things:

1. The color of the Bitcoin price represents the percentile of the price deviation from the stock to flow projection. As the price diverges below the regression line, the markers become more blue. As it diverges above the line, the markers become more red.

2. The stock to flow projected price is shown in green.

3. The ratio of the price to the stock to flow projected price is shown at the bottom. It will show red if above the stock to flow projection, and green if below.

New Bitbo Pro Chart

This chart displays the Bitcoin Stock to Flow model with standard deviation bands, based on the original work by 100trillionUSD (PlanB).

The model is smoothed using a 463-day Simple Moving Average (SMA), a timeframe derived from Preston Pysh's analysis of Bitcoin market cycles.

The 463-day period was calculated based on Pysh's observation that Bitcoin cycles consist of three phases (Bull Run, Correction, and Reversion to Mean), with approximately 200,000 blocks per cycle and 144 blocks mined per day.

The bands on the chart represent standard deviations from the smoothed Stock to Flow line:

  • The dark gray zone shows 1 standard deviation from the mean

  • The lighter gray zone shows 2 standard deviations from the mean

These bands help identify potential overbought and oversold conditions when Bitcoin's price significantly deviates from the stock to flow model.