Is BTC gonna crash or what?
Is BTC gonna crash or what?
Jose Robinson
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Jace Lopez
a pullback to 6500-7500 is just healthy
Caleb Reyes
this is the pulback, normies won't buy BTC at $10,000.
It appears too expensive for the average person to buy here.
The average person is waiting for BTC to go down to buy.
Source: all my friends and family
Juan Taylor
yes, or what
Josiah Mitchell
This is what makes me slightly uncomfortable
From a psychological standpoint it feels wrong to spend thousands of euros for some shitty sats, I'm starting to doubt BTC will ever reach 100k even after the halving and everything
Daniel Thomas
I think the $10,000 price point is misleading. The market cap is more important.
A 170 billion market cap for Bitcoin is what..?
If Bitcoin is to succeed in the future, 170 billion is... peanuts?
From my point of view, it's all or nothing for BTC. It will either succeed, or it will fail.
I think as time goes on, it's becoming more and more evident that Bitcoin is being considered as a legitimate asset class.
Jackson Nguyen
Yeah analysing the marketcap is better as it helps you determine if it's overvalued or not. IMO Bitcoin right now is overvalued, but that doesn't mean I'm shorting BTC or selling them before the halving.
Anyways we all know marketcap means nothing in the cryptosphere, centralized shitcoins like XRP reached a 130 billion marketcap during the 2017 craze. This would have been unimanignable even a year prior, although I doubt we will ever see such a FOMO for altcoins (95% of them won't recover or reach new ATH) or Bitcoin again in the same way as 2017
Jason Gomez
What is your method for determining is BTC's market cap is overvalued or undervalued?
Or is it just your personal opinion?
Jonathan Moore
Its gonna hit 3600 in December
Kayden Miller
I'm sure this has been said before but this seems like a dumb idea since it's like saying "gold will never go to X price because no one wants to pay X for an entire ton of gold"
Maybe we just need to come up with a better name for fractions of a bitcoin than "sats". Good luck with that though
Justin Johnson
mixed race couple?
CRINGE
Blake Allen
Global adoption, either by merchants or institutional investors or both.
It's undeniable that BTC is overvalued right now, I believe it will potentially be a store of value in the future (5-10 years) but it certainly isn't right now due to it's volatility. As of 2019 Bitcoin is purely speculative, it's not even a fungible p2p currency
Benjamin Nelson
So how do you calculate the fair valuation for Bitcoin using metrics such as global adoption?
I need some kind of formula.
Otherwise, it's just a subjective opinion?
Blake Scott
What's your method for determining fair value using these metrics such as 'global adoption'?
I need a formula.
Otherwise, it's just your subjective opinion, right?
Christian Gomez
It's partially subjective, although maybe the hashrate or the number of transactions would help determine Bitcoin's value. But there is no formula
Jose Wood
Check out the metrics on this website
Austin Mitchell
Network value to transaction ratio is a decent method. The more people who are trading or using BTC, the more value it has. Take the value of BTC in circulation and divide by the 24hr transaction volume. Lower NVT is better value.
If you go by NVT ratio bitcoin is more overvalued now than it has been in a long time, so I wouldn't be surprised if we see it go to $6-7K as others in this thread are saying.
This doesn't account for rabid speculation, human emotion, and news cycles... but not much does.
The only issue with this as an objective metric is that it doesn't take into account off-chain transactions e.g. lightning network, but I think that off-chain still constitutes a small amount of real use.
Eli Howard
Hashrate is ATH, meaning Bitcoin is the most secure and trustworthy global public network available. Data is money and 1 BTC represents a node in this network.
Halvening event in 259 days
BAKKT launch in 20 days
Tyler Powell
Indeed Ignoring store of value /speculation.
Most BTC is in deepfreeze.
Millions of BTC is also permanently lost skewing the numbers
Jack Ramirez
Is Mow the only one that is dipping his dick in her ass or are Spagni, Lee and Jespers also dipping?
>Asking for a friend who is interested.
Aiden Russell
Hashrate is ATH meaning BTC users are paying insane tx fees such that miners are making bank
Connor Carter
why are you guys talking about global adoption with a permanent 7 tps
brainlets
you should be looking at what effect the halving will have on miners
miners are taking 0.3 btc per block, it's literally nothing compared to minted block rewards
this thread is dumb
Cameron Smith
Yup, but the store of value is only valuable if other people own and use bitcoin. If you are looking to determine if bitcoin is overvalued or undervalued you really don't want to take into account speculation either.
I get what you are saying, but I haven't seen any other useful methods of evaluating if BTC is overbought or oversold. The rest of it is really just TA bullshit.
Dominic Smith
BTC is TRASH its brand awareness is dying everyone uses the word "Crypto" now instead of "Bitcoin". The LINK discord is about to launch a campaign teaching Normies that Alts are not "running on the Bitcoin Blockchain" (like they all assume) xDDDD LINK is going to FLIP BTC and ironically the USD as well.
Kevin Barnes
Good analogy.
Nolan Lopez
So NVT is the best way to determine valuation?
Bentley Murphy
checked and based AF
Thomas Allen
yes
Eli Parker
Price of optimum security. Microplebs can use LN or BTC banking (as predicted by Satoj)
Josiah Rivera
This chick is nasty, riding the azn crypto cock carousel.