When will bitcoin and other cryptocurrencies stop dropping? by semovita

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musing-threads · @semovita · Jul 8 '18

When will bitcoin and other cryptocurrencies stop dropping?

<a href="https://musing.io/q/semovita/p32bk3ax5"><b>When will bitcoin and other cryptocurrencies stop dropping?</b></a><p></p>

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@sarah249 · Jul 8 '18

$0.04

When will bitcoin and other cryptocurrencies stop dropping?

price of bitcoin was $5700 10 days ago and it was $6900 yesterday so that is 21% increase in 10 days it looks like the price is not dropping in last few days.

👍 musing

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@semovita · Jul 8 '18

$0.18

When will bitcoin and other cryptocurrencies stop dropping?

When the prices go up again long term.

It’s not that hard. It’s about supply and demand. The real question is: what drives demand?

While everyone and their grandmother is hoping it will reverse soon, that is unlikely to happen. The current value is completely speculative, since there is no real world adoption of any significant scale. When you see stuff happening beyond proofs of concepts, the drops will stop.

Until then the market will get pumped by hopes of recovery, only to be deflated even more because [fill in any hindsight reasoning, probably TA related].

👍 musing

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