Re: Does Circulating Supply have a say on how high the price will go?
I always say, supply & demand + being on TV news about another "record high" will draw lot of it to sky rocket it up even more, for all the newer investors who want in on it as well. Back in May when I would keep seeing people talk about other coins and on youtube video comments the popular ones that is for them. They did very well today. It's like a search in popularity among those users.
You don't have to be senior on here to have wisdom about how things work. You've demonstrated you know how things work!
Your point above is spot on. And it's the being on TV news or hitting a new record high or the endorsement of Bitcoin by the President of Belarus or the China declaring that bitcoin exchanges are illegal that influences demand...positively or negatively.
You should look at the major currencies, with their coin supply and then compare prices to come up with a comparative ratio that shows if crypto prices are under or over valued based on coins supply.
Well seems like the seniors on this site have a lot of info along with exp on this topic here with Bitcoins.
Yeah TV media just does make it popular just yesterday I was wondering if they will bash the coin and they so did. Half the sheep said "Thank god I never invested in something that's not real" And a very small group of people even stated that "From where it was Jan 1st and where it's at today, it's doing pretty good." Some even mentioned the patners but you know how the sheeps are.
So you want me to do the math for these huh?
I really think if Dash was on the news it would so so well. I can see it's the 2nd most popular one right after bitcoin in the search for "Dash Coin". It has very little compared to most. The price is up there. I did read an article about the $250M scam with mining Dash. But this was only in the crypto news, if it made real TV news then it be another story.
For the math, I would need a few things, the amount of coins at the time of certain dates, along with news media articles from like CNN, and other real channels on TV stations across the country. But I could be wrong.
I wonder if all the platforms shown on coinmarketcap are very up to date. I see a spam of $300 difference for Dash. No idea if other platforms have it differently or not. It must be a slow thing on the servers to update.
Long run I believe BTC will do super well. Just need it to bounce back up and hit another record to make it on TV/news again.
And thank you for the kind words, means a lot.