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Most analysts from traditional mindset making the mistake of analyzing bitcoin like they do stocks or fiat currency which can rely on a country's economy or pol
by rajadigopula 9y ago
Most analysts from traditional mindset making the mistake of analyzing bitcoin like they do stocks or fiat currency which can rely on a country's economy or political scenarios or a company's decisions to make profits. But, Bitcoin is like anything they have seen before or learnt in their college. Most volatility corresponds to news of it's survival at the moment and due to the reason the market is failing to agree with a fair value as no one knows it's future but is aware of the nobility of the technology and how it skipped the hands of any one controlling it by being decentralized. As the world keeps adopting to it the demand is getting increased. And there is still a lot of geographical terrain to cover.
When a traditional wall-street analyst sees a peak, he was trained to freak out and sense it as an extreme point of the crowd's greed. And shows off his training by telling the world that it's a bubble and it's going to burst, as the peak is occupied mostly by greedy investors who panic on losing their money and sells off double the speed they entered the trade. But this stands true when the value of the instrument surpasses the intrinsic value of the asset way too high. But with bitcoin no one knows hence majority investors still think it cheap and keep piling up.
- rajadigopula 9y agoI think some stupid Chinese govt. bot down voted my comment.
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