Today something dawned on me:
We can actually start seeing signs of "sellers' exhaustion" in volume and price action, but what is fascinating is that, different from the previous cycle, there is no sign yet of "buyers' appetite" re-appearing correspondingly.
Despair
Don't think so. "Apathy" is more like it, imo.
I think a lot of people are getting tired of the bullshit... and probably thinking that BTC prices should be more in line with the fundamentals.. in the $750-$850 arena.
$750 valuation based on what?
Ya based on what?
For me everything seems to be pointed toward $9.99
I already addressed this value basis question in another post.
But if you think the current value is $9.99-ish, then you seem to really be living in a fantasy land world, and possibly, you do NOT understand various bitcoin fundamentals.
I do NOT claim to be nearly an expert on everything about bitcoin, but there is a lot of upward potential that may or may not be realized.. depending upon how world events play out.
I am betting on BTC prices going up, though, and I believe the odds are pretty good... that we are going to be seeing upward price momentum rather than downward momentum - even though it is possible that we will continue to see downward price momentum for a couple of more months...
Does your valuation take into account the fact that Bitcoin mining as we know it will collapse very soon?