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Is there any evidence the price should have went from $1k to almost $20k other than hysteria and fraud? If not, why buy?
by ssharp 9y ago
Is there any evidence the price should have went from $1k to almost $20k other than hysteria and fraud? If not, why buy?
- spraak 9y agoA question for a recurrent neural network, maybe.
- LV-426 9y agoTo be fair, it probably will be pumped to $50k some time in the future (before crashing again). It's what Bitcoin does. After ten years, it's all it does. In 2011 (or something, I'm going by memory) it rose to $30 before crashing back to about $5. In 2013 (still the days when all people had to do was spam a few forums) it reached $10, $100, $200 before stagnating until MtGox and Willybot pumped it up to $1k. ISTR some people back then were predicting $10k BTC by the end of the next year (end of 2014). Instead it was about $500 or something, and BTC didn't reach $1k again for about three years (the start of this year or end of last year).
- ssharp 9y agoI think this latest pump brought in a lot of Regular Joe speculators. Not sure if that can be repeated again, but I guess all those Regular Joes now have Coinbase accounts, so maybe.