AV BTC Top Cap Model

The Bitcoin Top Cap

Developed by Willy Woo to identify market cycle tops. Top Cap is calculated by multiplying the Average Cap by 35. Average cap is calculated by taking the cumulative sum of daily market cap divided by the age of market in days. Additional Top Cap using 15x multiplier is included to show sensitivity and to gauge the effect of diminishing returns.

For the use on BTC Market Cap Chart: No changes necessary. Switching to logarithmic scale in recommended.
For the use on BTC Price Chart: After adding the indicator, enable Convert to price setting.

Customization of multipliers is enabled in the settings.

Data sources used: BTC_MARKETCAP and BTC_SUPPLY (for price conversion)

Note: Use with caution. I coded this for learning. This model might be past it's usefulness date. I am also seeing single digit % difference between this indicator values and top cap indicators available online.