1 Bitcoin = $18.2k at the time of this post, and moving… there is not enough data, so there is no bottom.

There is not enough data beyond the understanding that Bitcoin by principle and design is decentralized and not backed by anything so its value is always equal to the belief of its value at the time of the transaction.

We are for the most part investors buying on investors for the value of the theory of a scenario of Blockchain, through Bitcoin as the every day currency to transact at all scales globally. Its use and its value determined by its adoption. With a limited number of Bitcoins by design, 1 Bitcoin could be worth $100M, $1B, $1T or who knows if every transaction in every little shop in every corner of the world was made through the lightning network.

The Bitcoin market seems to be performing a sanity check correction, in theory the bottom could be $18k. But it could also be $10k, $3k or $300…

Best of luck investors.

submitted by /u/IncidentalCEO2020
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