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True story I'll tell here...
The original price of #Bitcoin was determined solely on energy value.
The first BTC pump happened when price discovery pivoted to demand and supply.
0.07 cents -> 1.36 cents
19x in one day (16 Jan 2010).
Just a friendly reminder that the fair value as represented by its "energy value" remains over $80,000.
Energy price is derive from an equation that is "mathematically independent to Bitcoin’s trading price and volume."