Commodities are increasingly behaving like this, though not to the extent that BTC does. The economy is very, very financialized. Bitcoin is an asset that appea

Commodities are increasingly behaving like this, though not to the extent that BTC does. The economy is very, very financialized. Bitcoin is an asset that appeared well into the financialization trend, so I don't think it is that surprising that such activity dwarfs actual uses of BTC as a medium of exchange. Who is interested in bitcoin? Consumers for whom the use of bitcoin is better than currency (so, like, contraband over the Internet), technophiles, libertarians and investors, really.