The intrinsic value of a good may be related to its production costs, so its price will never be less than this. Bitcoin prices can have behaviors similar to those existing in nature. The research aims to find similar behaviors between herds in the animal world and Bitcoin prices. Besides, the study analyzes the cost of production to determine if it is the intrinsic value of this cryptocurrency. Three scenarios in Bitcoin prices in the Momentum indicator were studied. The ANOVA and Tuckey test were helpful to find if the Momentum averages are related. The Momentum Index data worked with the number of herd members of the animal kingdom. The results show that the cost of production has a high correlation with the lower prices of the cryptocurrency. There is a particular type of relationship between the Momentum indicators and the formation of specific herds.
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