Not sure why everyone is so happy that bitcoin went up. As a net-saver I want to see lower prices over the next five years.
This will most likely not happen since we are in a loose monetary situation and supposedly there are some bigger firms getting into this space.
But the fundamentals are holding steady at the moment.
Remember the price is correlated to transactions on the network.
Value investor would rather see this cart jump and prices stay consistent. Which would make this an even stronger play. But the risk rewards are still substantial and buying at this level is fine.
Value investors like to use the most conservative possible value when analyzing an asset. If you take 10% of the gold market and call that the future market cap of bitcoin we get a market cap of 870 billion (8.7t x 10%). That is almost 7x over the 127 billion dollar market cap now. Sounds conservative for a store of value that is easier to transport, store and use as a medium of exchange.
Wishing everyone a peaceful day and happy hodling.
