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- What does support/cap tell us? I see that it's a "gamble vs investment" metric but I don't understand the logic behind that statement. - Is buy support at an
by impostervt 8y ago
- What does support/cap tell us? I see that it's a "gamble vs investment" metric but I don't understand the logic behind that statement.
- Is buy support at any level? As in, there's hug buy support for bitcoin, but is this counting people who have buy orders at the $6500 range all the way down to the $1 range?
- DenGorbachev 8y ago- It shows you how much of market cap is backed by actual buy orders (~ whether it's vapor or not). The more buy support, the higher the probability that current price will hold (discounting for manipulative orders, of course). - Yes, we sum buy support at all levels. You can see the explanation here: https://news.ycombinator.com/item?id=18162456 https://news.ycombinator.com/item?id=18162456