TradingView Indicator names:
-WU BTC Thermocap Capitalization
-WU BTC MarketCap to Thermocap ratio (MVTV)
-WU BTC Price floor from Thermocap
There are plenty of ways of calculating the overall value of the Bitcoin network. The one that is most often used is the market capitalization of Bitcoin. Market capitalization, which is calculated as the sum of all the existing supply of an asset at the price it is currently trading at, is a valuation metric directly imported from stock investing. For a company, this metric makes total sense since it represents the price that someone should at least pay to acquire all the stocks of a company, like Elon Musk recently did with Twitter. But is it a realistic measure for Bitcoin?