Bitcoin is more "underappreciated" now than it was in March of 2020 by jrcornel

bitcoin · @jrcornel · May 29 '21

$1.85

Bitcoin is more "underappreciated" now than it was in March of 2020

# Bitcoin is flashing a major buy signal on several measures

Remember the covid19 bitcoin plunge?

Well, you should, it was one of the worst plunges in the history of bitcoin.

However, based on the dollar value of throughput across the network, the price is currently more undervalued than it was back then at the lows.

Check it out:

![image.png](https://cdn.steemitimages.com/DQmWCfn8HM8Pia5BptcaH1g94v7A46NMzJY5niBdo96jjhd/image.png)

(Source: https://twitter.com/mskvsk/status/1398692716742168577/photo/1)

While astute observers might mention that of course the dollar throughput is higher now, considering the price is 10x what it was at the covid19 pandemic lows... there's more than just dollar value being represented above.

The chart above shows the dollar value of transactions compared with the total market cap of bitcoin.

This way it is an apples to apples comparison.

And currently that ratio is lower than it was at the pandemic lows.

Not sure about you, but that sounds like a screaming buy to me!

Stay informed my friends.

-Doc

👍 armentor, fijimermaid, ghasemkiani, teammo, matt123, mmmmkkkk311, mauromar, harkar, radard, jondoe, jrcornel, ctime, swaraj, thedogekid, builderofcastles, elisilva05, udabeu, nanocheeze, tonyz, dine77, pgveer, armadilloman, roundblocknew, tookta, cliffagreen, breezin, nuytara, lieutenantdan, nihar1969, kevmcc, salty-mcgriddles, exifr0, beargame, exifr, cyber.explorer, r351574nc3, sd974201, tokenindustry, kcgm, corndog54, jesusjacr, shanghaipreneur, glory7, mtl1979, kevingblogger, jayplayco, ond, pluepark, goktug0814, cryptycoon, bruce79, silvervault, kimjaguar, redwarbull, mrs.goldkey, silverkey, cryptoclerk, goldvault, dcinside, projectw, pharos1999, mildaleblanc, jayplay.witness, dhanagc, and 2 others
👎 camillesteemer

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@jrcornel · Jun 9 '21

$8.05

Great time to buy.

👍 jondoe, bullionstackers, millivilly, global-pillar

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@jrcornel · Jun 9 '21

$7.87

Buy the fear!

👍 jondoe, bullionstackers, millivilly, global-pillar

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@jrcornel · Jun 9 '21

$7.71

Best time to buy is when everyone hates something.

👍 jondoe, bullionstackers, millivilly, global-pillar

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@jrcornel · Jun 9 '21

$7.54

Hopefully that $31k was the bottom.

👍 jondoe, bullionstackers, millivilly, global-pillar

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@jrcornel · Jun 9 '21

$7.37

Needs to break above $40k and hold and we are set.

👍 jondoe, bullionstackers, millivilly, global-pillar

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@jrcornel · Jun 9 '21

$7.19

I bought.

👍 jondoe, bullionstackers, millivilly

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@jrcornel · Jun 9 '21

$6.56

Put my money where my mouth is.

👍 jondoe, millivilly

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@jrcornel · Jun 9 '21

$6.38

Need the price to flip now.

👍 jondoe

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@jrcornel · Jun 9 '21

$6.24

Would love to see bitcoin back over $40k.

👍 jondoe

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@jrcornel · Jun 9 '21

$6.09

What are the odds that was the bottom?

👍 jondoe

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@jrcornel · Jun 9 '21

$5.95

I'm thinking 80% likely that was the low.

👍 jondoe

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@jrcornel · Jun 9 '21

$5.81

If we get a bunch more countries starting to join in with el salvador, we good to go.

👍 jondoe

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@jrcornel · Jun 9 '21

$5.67

C'mon Mexico!

👍 jondoe

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`percent_steem_dollars`	10,000
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
jondoe	0 B		8,465,351,325,159	100%