Last part is extremely uncool.
https://www.lookintobitcoin.com/charts/bitcoin-investor-tool...
When N=3 because that's the entire size of the sampling pool, failing to take heed of those patterns is an unforced error.
For businesses it's important to understand earnings and assets because those put a floor on the price of the business: they set a price level at which you are very likely to see demand for taking over the business. At the end of the day, though, when you study fundamentals you are making guesses at supply and demand.
The price of a Bitcoin depends on how many people are trying to use it for remittances and how easily those people can acquire Bitcoin and how long recipients hold before selling. Demand also depends on the macro environment and it's historic correlation with other markets. Supply depends on the issuance rate and energy prices (higher prices will force miners to sell more to pay for their operations). Many other factors are at play; by predicting them you can make guesses as to future supply and demand and future bitcoin prices.
Fundamentals in crypto are existential, favorable qualities of a token that can survive severe downturns (bear markets, depressions).
For BTC, fundamentals are absolute scarcity combined with buy-in/popularity.
For ETH, fundamentals are utility/flexibility and network effect.
For HorneyDonkeyKongCoin, fundamentals are...none. It will go to zero and never come back.
This is literally the opposite of the meaning of fundamentals. Absolute scarcity is meaningless; in classical economics, everything is scarce. And popularity are animal spirits.
You don't decide on the value of a scarce asset, the owners of the asset do. If you personally believe the nominal value of a scarce asset like BTC is meaningless and thus zero, short it.
I agree. It's just convenient that fundamentals, by this definition, always equals the market price. At which point one asks why there are two words other than for misdirection.