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 get your point, but why don't you create a inflation adjusted Bitcoin market cap graph?
"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." So check your inflation statement against it. Nethertheless do you even understand blockchain.info's market cap graph? Its for the lulz. And you try to get serious on it.
inflation adjusted bitcoin market cap = btc price, no?
I think the market cap is a good thing to look at. Probably the best way to judge bitcoin is something between btc price and market cap.
BTC market cap, in USD = BTC value adjusted for BTC rate of inflation, in USD
It's not the exchange rate, or the "price", in USD. But it
does display
value more accurately, rather than the exchange rate.
In my opinion, value is way more important than price when it comes to trading. Which is why I focused on it here.
To answer your question, spaceman, yes lol and I agree that price is relevant as well. Especially even numbers 10, 20, 100...
I think I'm a lttle confused about the term "market cap". There are no "shares outstanding". Can this term be used in forex?