Just because something is priced lower does not always make it a good value. If BTC was once priced at 14,000, being priced at 5,500, is it cheap or a good value. How does one value BTC, based on momentum, current price, or something tangible. Price should not be the only determinate of value.
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Truth! Honestly this situation is a failure for bitcoin. Everyone said bitcoin will be the thing that takes off next crisis. It’s down from $9000
It’s down more then the Dow and has been literally moving with markets both directions since this crisis started. It’s loosing credibility , let me rephrase that, the bitcoin max guys saying store of value and savior in crisis have been wrong. It’s not impossible it surges again but the story is failing.
The price and action is the story, the HODLers continue with stories that a surge will happen after the halving, but give us legit justifications as to why, just not hopium and hoping someone else buys and the HODLers wait to get out at a higher price.
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How does one value gold? Or any crypto project?
At one time gold was valued as a certain dollar value to a weight of gold and silver. Since Nixon took us off the gold standard, that ratio was lost.
In the Coinage Act of 1834, Congress adjusted the gold eagle: "Each eagle shall contain two-hundred and thirty-two grains of pure gold." This brought into legal equivalence 3712.5 grains of silver and 232 grains of gold. The ratio was 1:16.
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