It's time to stop analyzing bitcoin just as a regular stock asset. We are facing something completely different here. We have had more than enough examples this is not just another asset from a great company, it is something new we have never seen nor experienced before. Human nature is to compare but we just can not compare this behaviour with anything we have experienced before.
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While I am a believer in both bitcoin and stocks, this is the kind of talk that was going on in 1999 in the Dot Com Bubble. ...We need to stop analyzing these internet stocks as regular stocks because they are different....
I think there is one real difference though today, which is the Internet. Back then it was all just in newspapers but now it´s real time and everywhere including all the people around the globe. But let´s see where we go in the end :)
I agree but come on 75% in a single week can´t be good anymore for a healthy longrun growth. I can see 10% per week as reasonable but at a certain point I refuse to believe that it´s still good for Bitcoin. I rather want to see it grow massively in "smaller" numbers than experiencing a huge crash one day.
We will have to wait and see, but for me, it is also insane to have anything grow x15 in a year. It is just the result of mainstream adoption on something quite scarf. Most of the people which have bitcoin are just holders, they do not sell or trade, this makes trading volume is very small compared to any other stock, security or future/option contract. That's why I just stopped applying technical analysis a long ago. I try to understand the business models behind any crypto project, the development team and the rules behind it.
Definitely. That´s why I like Ripple so much as it has a real world usecase that could change the whole banking industry , just before cryptos take over ;)