In 1st quarter of 2013, the price of bitcoin was $135 so if it was over 286BTC, the calculation would be 286BTC * $135 = $38,610 approx. But the ending price for that year increased to $700.
While for 2018, the bottom was $3,300 and the calculation is 8.4BTC * $3,300 = $27,720 approx. I don't understand the metrics and price range that the chart took if there's a specific price that he has used as basis. And as for 2023 predictions, due to that chart the price of bitcoin obviously increased so what if around 2-4BTC?
Why would they use the minimum price of bitcoin during that year? Surely they would have used the average price.While for 2018, the bottom was $3,300 and the calculation is 8.4BTC * $3,300 = $27,720 approx. I don't understand the metrics and price range that the chart took if there's a specific price that he has used as basis. And as for 2023 predictions, due to that chart the price of bitcoin obviously increased so what if around 2-4BTC?
They probably did and we can more or less calculate what price they chose.
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Quick Summary: According to U.S. Census Bureau data from 2018, the latest release, the median household income was $63,179
If the result was 8.4 BTC then the price must have been 7500 USD, which is fair because in 2018 the price was between ~17k USD and ~3,5k which makes it average at about 7k USD.
I have to add that the average income of 63k usd is a household income, not the income per capita, which makes a huge difference. For me personally even a household income of over 60k USD per year is an enormous amount of money. Even if I were to live with my parents with my wife and all 4 of us would chip in for a single household income, we wouldn't be able to reach 60k USD
