Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Miz4r
on 07/02/2015, 02:31:54 UTC
Quote from: Newbie1022 on February 07, 2015, 01:51:09 AM
Quote from: Miz4r on February 07, 2015, 01:41:36 AM
Quote from: Newbie1022 on February 07, 2015, 12:57:29 AM
Hash rate through the roof, short swaps through the roof, talks of the hard fork, Ethereum just dumped over 5k coins in what is already supposed to be a down market, and USMS talking about another auction very soon.

Price perfectly stable.

This can mean only one thing... the Bitcoin price is massively undervalued right now. The pump to $300 was just a little warm-up as to what's coming. Perhaps the market is patiently waiting for the last SR coins to be sold.

That is one thing it could mean. BUT, it is cartoonish to say that is the ONLY thing it can mean. It's like saying the sky is blue... that can only mean one thing... GOD exists!

What a horrible analogy lol. Anyway it's obvious the price is undervalued right now if you look back at over a year long decline of the price while the Bitcoin ecosystem has been growing as never before. This divergence can only last so long before it snaps back. Not that we couldn't still see lower prices and a further divergence, but man it's hard not to convert all my earned fiat into BTC these days.