" Much of what you read about the BTC assessment is nothing but the "feelings" of analysts. You must understand the sentiment of the market as pre-eminent to any valuation method, and especially "We are 100% agreement! Https: //t.co/1Nf0BakpNz
– Weiss Ratings (@WeissRatings) September 20, 2018
Geoffrey Caveney, a financial writer, published an article about his "feelings" about Bitcoin, saying,
"When I say that there is a" good chance "the price of the bitcoin will be lower at $ 1,000 by next year, I understand that "good odds" is not a precise sentence. Here is a more complete explanation of what I mean, in two paragraphs that do not fit in a title: If we had a game of riddles, and we had to guess? What will be the lowest price range of bitcoins in the rest of 2018 and all 2019 ?, & # 39; my guess would be around $ 900 to $ 1,000. & # 39; I think it's about 50-50 if the actual actual price will be higher or lower than that. "
Although the industry seemed to be full of supposed experts and analysts not long ago, it seems to be based on assumptions today." However, in an article by Avi Gilburt of the Nasdaq news site, she referred to a comment on Caveney's post, which he said,
"Bitcoin has value because we say it does. A piece of bright yellow rock in the ground has value because we say it does so. MONEY has value because we say it does so. "
To get any kind of understanding of encrypted prices, the first thing investors need to understand is the precedence of market sentiment over" guess. "Evaluating the market is the best way to see the price direction, even if no method is 100% impeccable Inflation rates are part of the way Bitcoin is valued, but this principle alone is subjective.
The need to determine the fundamentals of Bitcoin and the rest of the tokens is evident in the industry.Extraction costs are not necessarily a good way to determine these prices, especially considering that the miners are still waiting to be rewarded for their work.The transactions on the blockchain do not seem to make the difference, considering that transactions have been decreasing lately.The decision to be bearish on Bitcoin seems to be the most logical option for some investors, even if the problem could occur when the transactions decline faster than the real price.
Realistically, there is no reliable method to find the true value of Bitcoin. The hypothesis will not work and the forecasts are extremely inaccurate most of the time. However, based on Gilburt's information, tracking is possible, which could be the only way to follow accurately.
"However, being able to trace the market sentiment through the analysis of Elliott Wave was a wonderful way to be able to track the price and seems to be the most accurate way (and perhaps the only one) to track the Bitcoin market. "
This view could be slightly distorted, considering that it is a technical analyst of Elliott Wave, and founded. ElliottWaveTrader.net