I had a thought. There are articles about cryptocurrencies being a bubble and if not, then how can you explain this quick raise in such a short period of time. You cannot deny how fast these coins are rising and it is logical to think it cannot last or there has to be a major correction. Value takes time. But what if there is another reason that bitcoin and other coins are skyrocketing in value? What if, the real reason that coins are spiking is because the coins have been undervalued and people are starting to see the use of cryptocurrency? Think about it.
This is not investment advice and the value of coins can crash tomorrow, but just a thought that maybe some people are looking at the coins in the wrong way. I will not cover all the reasons why I think this in too much detail as I have posted about them before. But you have an efficient, global currency, with no exchange rates, low transfer fees (zero if you use steem), that also has bonus features like voting power. Plus there are only so many coins and with them being used globally, it makes sense they have to be worth more than the currency of a country.
So if the price keeps going up and experts are scratching their head why, maybe this is the reason, that the market has yet to reach it's real value. And if that day comes, remember you heard it here first :p
*my upvotes/rep disclaimer: https://steemit.com/steemit/@whatageek/my-steemit-account-where-i-stand-on-bots-self-votes-and-multiple-account
The number of people who are using bitcoin/crypto is just a small fraction of the world's population. If Bitcoin/crypto are destined to replace government-issued currency, all the world will be using it, including the 2 billion people who are "underbanked". That means bitcoin/crypto has the potential to be even more widely used than fiat currency. If that's the case, bitcoin/crypto is incredibly undervalued, even more than silver and gold. I believe there is the total opposite of a bubble. Great post, thanks.
That what I'm thinking too, it really is a small percentage of users than what it can be.
Even though I agree with your point, which I kinda corroborated on this post. I just wrote this post about reasons I believe Bitcoin might be currently undervalued, if you'd care to take a look. Also wrote a bit on why we gotta watch out for a possible ICO Bubble. Don’t get me wrong, I’m a total crypto-enthusiast, on the other hand I try to be very logical about my analysis as an investment.
For me, the whole crypto world is still undervalued and it's still innovating. I sense it will explode at some point in time. :)
I think so as well.
I just wrote this post about reasons I believe Bitcoin might be currently undervalued, if you'd care to take a look. Also wrote a bit on why we gotta watch out for a possible ICO Bubble. Don’t get me wrong, I’m a total crypto-enthusiast, on the other hand I try to be very logical about my analysis as an investment.
wouldn't that be something... ! ;)
It's got my vote :)
It's still a bubble, just one that does not plopp then ;)
The speed is just way too high.
Yeah it is hard to ignore the quick rise, but maybe it just the new money entering, or I'm dreaming :p
Thanks for sharing
Upvoted for the good content
I do not think it is a bubble, my point of view that is still undervalued.
There is a mass of new liquidity that is being pumped into the bitcoin economy and the crypto space in general.
As bitcoin keep hitting all time highs, more and more articles are published that highlight its increasing value and infrastructure which leads to more capital entering the space, which continues to hit new top ..
I'm with you on that, I think there is more growth to happen. There might be some dips along the way, even major ones, but I do think it will be an upward trend. But this isn't investment advice, just my opinion. Though it might be wishful thinking as I own steem.
I can tell you, I don't ever want to be that guy who sells expecting a crash only to watch in horror as it continues on without me. Most of the people I know who sold out all there holdins at 200, 600, 900 all regret it now. None of them want to buy back in higher either , so they miss the whole thingThis is just begginning.
I know the feeling, I sold some steem at 90 cents and it is hard to buy it again when you bought it for cheap.
I just wrote this post about reasons I believe Bitcoin might be currently undervalued. Also wrote a bit on why we gotta watch out for a possible ICO Bubble. Don’t get me wrong, I’m a total crypto-enthusiast, on the other hand I try to be very logical about my analysis as an investment.