Bitcoin Undervalued?

I have come across alot of people expecting BTC to go on a run soon. Many point to bullish chart indicators and technical analysis. As much as I would like this to be true, I think that any real BTC runs may have to be delayed until BTC has addressed scaling in a much more applicable way. Basically, until BTC becomes useable again, i can't forsee it taking off.

Consider that the Bitcoin Cash lobby will continue to point to any scaling deficiencies in btc via high fees or high confirmation times. This means that the problem really must be solved before we can move on. In my opinion, If coinbase decides to add in segwit and batch transactions that will help somewhat, however if lightning nodes begin to come online exponentially, this will alleviate the blockchain rapidly. It is just before this starts to happen that the bull run will occur. Maybe that time is now, maybe it isn't. I keep reading promising news about the lightning network, but it is hard to quantify since i can't really even go try it.

In brief, until bitcoin has a tangible way to address the current fee and wait time issues that is on the forefront of adoption, I do not think it will make a significant move.

State of the market:

For new readers:

Cryptogram is my personal journal of thoughts about cryptocurrencies and related topics.

Purpose of CryptoGram:

Currently in the crypto space it can be difficult to remember what you have discussed or been thinking from one week to the next. The rapid development of, and many changes in the space keep everyone on their toes. Now that I have been financially involved in the space for roughly a year, I realize that I would love to have my thoughts from 2017 written down somewhere. I believe having this information will help me stay focused, avoid repeating past mistakes, and hopefully help some other people, (anyone who decides to read this,) from making those same mistakes.

Briefly, I need a place to record my train of thought and that place will now be dubbed "CryptoGram"

My thoughts on the structure of this post are:

• About 500 words.
• Frequency of once a day to once a week.
• Each post will have a number and date.
• A snippet of top 5 cmc coins for price reference. (state of the market)
• I will always use these 5 tags, three of them will be:
  • bitcoin cryptocurrency ethereum
  • the other two will be topic specific