Awe and Wonder on twitter does a great job too with the log regression chart and other interesting stuff:
https://twitter.com/Awe_andWonderDon't think he is doing log regression on total market cap thou
If anyone thinks Trololo's work was a bit difficult, Awe&Wonder's paper in Medium is even more so. But I think I've got the jist of what he is saying.
In my words he reckons the neutral btc price should be about $4800. Since we are already below this price at present bitcoin could now be considered to have become undervalued. For me that means now is more or less time to consider buying.