Having done over 50 rounds of golf in life, I kind of know what golfing should look like. If you look closely at this picture you will see 50 people all trying to get their ball onto this green. I have never experienced this before. So how much golf do I have to play to become an expert?
The same is true with Bitcoin. What should be it's price? and what growth should it have, given it is getting back up to 3.55% daily volatility? Very tough questions to answer.
My first email about #Bitcoin was April 13, 2010 over 8 years ago so I have had my eye on the code for quite sometime. But, yesterday I had an epiphany -- Why should Bitcoin trade like a normal stock? It should trade like a game changing commodity. If we compare Bitcoin to the Dot com boom we get a very similar pattern.
The 40% price drops are normal when we are dealing with game changing technology. So in other words, Bitcoin might be at the bottom now, not because of Technical Analysis; but because of what Bitcoin represents -- Game changing technology. Thoughts?