Bitcoin Price Analysis: Do Fundamentals Drive Price?

Bitcoin Price Analysis: Do Fundamentals Drive Price?

Bitcoin price meanders near its low, apparently acquainting itself with long-term support. Chart technicals to one side today, as we consider the question “Do fundamentals drive price?”

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Bitcoin Price Fundamentals

Time of analysis: 14h00 UTC

Bitstamp 1-Week Candle Chart


Today’s article considers the bitcoin price chart in context of similar speculative markets. The discussion focusses on the notion of fundamentals. The term fundamentals is used in its broadest sense, and not in the strict investment definition that refers to company balance sheets, work in progress, and so on. Although there are parallels between the bitcoin price market and other commodity markets, as briefly explored below, it is not being implied that their broad fundamentals are identical – of course, there are idiosyncrasies – especially with Bitcoin. The discussion will show that there are

Read more ... source: TheBitcoinNews

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