It's my opinion that we should have been well north of $1K many years ago, that's how much I think bitcoin is undervalued right now.
I fully agree with that. While it was over $1k 3 years ago, that was an artificial high.
Follow the exponential rise from a fifth of a penny in May 2010, through dime later that year, a dollar several months later, bubbling up past $39 in the Great Bubble only to settle in at over $2 later that year, then less than half a year later setting a new ATH at $266 during the second major bubble, only to drop to $50, and then reach $1200 during the 3rd big bubble.
The peaks of the 3 mega-bubbles all rose above the trend lines and were quickly brought back down to earth. Since then we've been substantially below the trend lines and are only recently recovering. The 2014-2015 prices in the $200s were as much an anomaly as the prices in the $5-$10 range were in 2012.
Of course Bitcoin is undervalued now. We have a lot of catching up to do.
agreed. It is undervalued indeed but the value is showing so much maturity. Volatility seems a thing of the past: it will come back eventually but we saw much happening recently and price is still keeping up. To me that's good. I predicted 850 by the end of the year. We still have time
