The bullish trend we see the past days is for me another sign that lots of newbies are jumping on BTC without fully understanding fundamentals.
Im not sayings fundamentals are bad today but a fork should never be good news. Its a quite risky episode in a coins existence.
I always hated people talking about the Bitcoin bubble but Im affraid its there :(
Its not a bubble. Its worth less than mcdonalds. Its 30 times smaller than the gold market. There are only 18 mill wallets containing 100$ worth of btc on average. 0.2% of the world populatiln owns btc. Alot of people still have not heard about btc. I just namedrooped btc to a 60 year old. She hadnt frigging heard about it. Ñot a bubble.
Mcdonalds or gold cannot be copied identically overnight :) Probably it will go up in the near future but any logic is long gone...
If it's not a bubble why is it going up when there is a hardfork happening soon ? People are acting like this is good news...
Only 30X smaller than gold? I thought 100X smaller than gold.
BTC needs to be $25K, for BTC market cap to equal 5% total world value for gold.
BTC has to increase by 4X, to be 20X as small as gold.
Whatever.
BTC is a freaking pip squeak and insignificant portion of current GOLD market cap
Yeah, you're right. Dunno where I got 30x from :D
80x is more like it :)