bitcoin’s intrinsic value?I think that's around where we are now. It sure can still move a bit lower, but not much. In other words....I think we are in territory, where bitcoin (and most other crypto currencies) will spike. I even heard that some banks will (or maybe they are already doing this) be buying bitcoin as a hedge along with silver and gold. So, in my opinion, crypto currencies are just starting to influence the world. And the prices will show that influence in near future.
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Hmm, your comment is a bit unclear. First, you say that it will not move much. Then, you say it will spike, followed by an assertion that cryptos are "just starting."
Please clarify.
Yes, I wanted to say it will not move much lower (even Jeff Berwick and Alessio Rastani think this way ). One word can change all the meaning. I will edit and fix this comment.
Ok, thanks for the clarification. I too believe it has reached a support line, and that it's unlikely to drop any further.
Personally, I think I'd be happy no matter how bitcoin moves. If it goes up, my holdings are worth more, and if it goes down I can accumulate more. I don't think the network is going anywhere tomorrow and bitcoin is still small.
That's an excellent strategy. Over the past few years, I've bought some precious metals. The price kept dropping. And dropping more.
At first, I was not pleased. But as it continued to drop, I was able to buy a bit more. And a bit more. I managed to accumulate a comfy little store, and when the price rises, I'll be very happy and content.
Cheers.