I just had to say this... The market is a lagging indicator. The current price for any cryptocurrency is formed from a combination of:
- perceived value held by the majority of capital holders today... Whose composition is disparate from capital holders of tomorrow by the way
- and the extent of the use-case utilization of the crypto
- and finally the extent to which the crypto lives up to its design as an antithesis to some form of freedom-oppressing system
Which makes the price some kind of live pulse on the market participants' reactions to threats on certain freedoms.
Many times I've seen price lag behind all these aspects.
Especially in these formative stages of the crypto space.
Interesting times :)