In 2012, there were lots of talks about "Buy 1 ounce silver. End the Fed". Then Silver price crashed from $50/ounce to $9/ounce.
Sure.. A precious metal is compared to a growing cryptocurrency and because there had been some massive booms and big crashes, it would end the same fate as the former.
Firstly, no one is over-hyping bitcoin; the people themselves created these high demands causing the price to surge and resulted into and ATH in December 2017 and crashed January-February 2018, but that doesn't mean that it will end like silver's fate. Bitcoin experienced too many ridiculous crashes on its 9-year journey, but the price keeps getting bigger every time the market decides to push back up.
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but all that matters is stop caring about todays price and trying to make people think todays price is true value.. or that decembers high was true value.
just stick with not caring about the up's and only care about the lows and you will start to recognise where true value lays and what to expect over time
Absolutely, seeing that the ATH was just a result of people creating huge demands out of limited supply and people who FOMO since the rally is giving everyone else huge profits. For me, true value is the bottom of the crash, wherein people would be hesitant to sell and would just cling on to a certain asset since they've already experienced the worst, and are only hoping that the asset would soon appreciate in value if the demand goes larger and larger. Forget about aiming a new ATH every single day. Bitcoin is solidly valued @ $9k-$10k a piece right now and it's already a great amount.
