Bitcoin has fallen below the lowest band of the popular Bitcoin Rainbow Chart for the second time in its history, a valuation model that has tracked BTC’s long-term price cycles for more than a decade. Some of bitcoin's most fervent holders believe the chart is signaling a key buying opportunity. CryptoRover drew comparisons on X Wednesday with the last time it was in this zone of the rainbow in 2022, at $15,000 before a cycle bottom.