Think of it as looking at a BTC price chart adjusted for inflation against USD.
So essentially, what you're looking at is the real value of Bitcoin hitting the all-time high of 2011, relative to USD.
Remember, Bitcoin does inflate.
This gives you a better indication of the actual, real, inflation-adjusted value of BTC at the moment, as opposed to the nominal price of about $20.00 USD currently.
Basically, Bitcoin is as at least as valuable as it was at the high in 2011, and looks like it is even beginning to surpass it.
I think that's kind of a big deal... like breaking through the all time high of $31.00/BTC here...
i dont think new buyers would think of that
how is that resistance?
that'll be an interesting explanation
Oh, and its a big deal for you guys mostly, at least it should be... not so much the average buyer. They could care less about technical indicators like this.
But you know what else is real interesting? The DJIA index has been making new highs lately. Right now, it's at around 14,000.
But is it really making new highs?
Pulled from http://home.earthlink.net/~intelligentbear/com-dj-infl.htm
Not even god damned close... the sham of inflation
So essentially, what you're looking at is the real value of Bitcoin hitting the all-time high of 2011, relative to USD.
Remember, Bitcoin does inflate.
This gives you a better indication of the actual, real, inflation-adjusted value of BTC at the moment, as opposed to the nominal price of about $20.00 USD currently.
Basically, Bitcoin is as at least as valuable as it was at the high in 2011, and looks like it is even beginning to surpass it.
I think that's kind of a big deal... like breaking through the all time high of $31.00/BTC here...
market cap new high
i dont think new buyers would think of that
how is that resistance?
that'll be an interesting explanation
Oh, and its a big deal for you guys mostly, at least it should be... not so much the average buyer. They could care less about technical indicators like this.
But you know what else is real interesting? The DJIA index has been making new highs lately. Right now, it's at around 14,000.
But is it really making new highs?
Pulled from http://home.earthlink.net/~intelligentbear/com-dj-infl.htm
Not even god damned close... the sham of inflation