Surely you are looking at this completely wrong. You can't comment on $, you need to work it out in % otherwise it's pretty crappy logic
Agreed, marketcap numbers are skewed and not a complete picture.
The things to focus on are: estimated market float vs. "circulating supply", total supply cap, relative distribution, and %up or down. You also have to account for what is most subjectively "valued" relative to bitcoin (i.e., bitcoin is more valued than an alt, which is more valued than an ICO token).
Yeah I knew it was maybe a short cut way to see things. But hey! the OP is "Observer BTC/USD..." so I though why not.
Thanks anyway.
It does not hurt to speculate in various ways and to consider different kinds of frameworks... However, if you get too loosey goosey with your logic and your framework, then you are talking gibberish or placing way too much importance into factors that have little to no value.
Sometimes the framework that you chose to describe something, such as bitcoin, or you try to communicate how it has changed, there is some meaning to your assertion that the whole dollar value market cap change is equal to the whole market cap of a year ago, but then you need more than just that one fact to come to any kind of meaningful conclusion regarding whether you are asserting the asset to be overvalued or some other argument that you want to make about it.
I do not overvalue Bitcoin, and did not wanted to make any argument in particular other than the numbers from the BTC Market Cap alone.
But I understand that it doesn't mean much looking at it alone.
Regardless, the figures when I saw them made me think that BTC took a huge step UP in 2017.
And that now such a huge drop doesn't affect the price that much. I mean, at the moment it is nothing in term of dollars for BTC. Specially if we add on top of that the war we are in.
Sorry not been English native speaking cost me more time to make dip analysis. The words doesn't comes naturally.
