4 ms·

Also agree. It seems many people are convinced that others will just keep holding forever. Eventually there's less money flowing in and people will realize th

Also agree. It seems many people are convinced that others will just keep holding forever. Eventually there's less money flowing in and people will realize they aren't getting rich. When people aren't making more money they will start selling. Worse, the people buying in now aren't true believers. They are "investing" because they think it is easy money. These folks represent a larger percentage of the market cap and are also least likely to have confidence in bitcoin for it's utility. They also stand to lose the most because their buy in point was so much higher. (people who bought in at say $1000, are just losing profits) A panic sell will happen at some point.

slyfocks 9y ago
The cult-like “hodl” culture in the Bitcoin community exacerbating the already limited supply of Bitcoins (if it were a stock, it would be a “low-float” stock, which results in increased vol) has served as the perfect breeding ground for a bubble. As Bitcoin becomes extremely mainstream, those who hodl Bitcoin with religious fervor are increasingly becoming a smaller minority. Eventually it’ll reach critical mass and there will be enough disloyal Bitcoin ownership to cause a panic at the first significant sign of selling.