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Not a very scientific theory, and not much collected evidence but based on my observations Bitcoin get's much more press, more people know about it and want to
by rafiki6 9y ago
Not a very scientific theory, and not much collected evidence but based on my observations Bitcoin get's much more press, more people know about it and want to buy it. It's all very speculative. To say 1 bitcoin is worth 7000 USD is the same as saying I can manage to sell all my bitcoin for that much which is likely not the case. As with all assets, the moment a major player loses confidence and signals such in the market, there will be a sell off and major crash in the value.
EDIT: anectodal evidence, this week more than 10 non-tech people who ask me for investing advice asked "should i buy bitcoin". The moment non-experts begin to ask if they should be buying something is generally a good signal that something is bubbling