Author Topic: The Bitcoin price drop is counter-intuitive.  (Read 210 times)

Offline Jet Cash

The Bitcoin price drop is counter-intuitive.
« on: June 22, 2018, 06:38:40 PM »
I've been watching the price of Bitcoin closely for the last month or two, and it is quite interesting. If you read the chartist theories, then they are self-fulfilling in the short term, but are not indicative of any stable movement. To me, this is an indication that the price is being manipulated. It seems that there are no longer bulls or bears influencing the market, but just sheep shearers. My feeling is that Bitcoin is substantially under-valued. Well strictly speaking it doesn't have any value.  So in this context, we have to consider value as its potential for the storage of wealth. I think it is preparing for another sheep rush, and this will lead to more debt as people hasten to take advantage of the rapid rise. The bankers love to create debt. The difficulty is in knowing when to buy, and not getting caught in the FOMO rush.