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"As someone who has spent a good amount of time trying to value Bitcoin, I believe that the total value of Bitcoin has the potential to be worth $180-$220B with
by tuna-piano 9y ago
"As someone who has spent a good amount of time trying to value Bitcoin, I believe that the total value of Bitcoin has the potential to be worth $180-$220B within the next 12 months. Given that Bitcoin now has a market cap of ~$166B, I believe Bitcoin is undervalued and would be a smart value buy."
... is a statement you will never hear
"It went up, then it went down, then it went up, then it went way down, so I think it will definitely go up/down now."
... is the entire internet today
This reminds me of the signs that show gamblers past roulette spins, so they can say things like "It was red 5 spins in a row, it's definitely going to be red again!". What else are bitcoin speculators looking at besides past price moves?
- friedButter 9y agoThats most cause there arent any underlying fundamentals to measure.. even in the stock market, yes there is an underlying company, but metrics such as P/E ratio's for specific industries are fairly arbitrary.. Similarly the stock market kind of operates on the principle that some day someone else might want to buy a share and guesses what price they might want to buy it for. Else the PE multiple would always be one.. Give crypto a few decades and you'll get similar analysis, I doubt stock markets had such data from day one either. (Disclaimer: I do not trade in or hold crypto, and will not until some regulations kick in, espicially around an exchanges ability to shut down and keep all deposited crypto with it)
- liberte82 9y agoPretty much. All this talk about "technical analysis" is nothing but tea-leaf reading. You're spot on with your roulette example.