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"somebody here could venture a guess about the reasons for the sudden drop" It has no inherent value, is a poor currency substitute, it is a poor store of valu
by throwaway5752 8y ago
"somebody here could venture a guess about the reasons for the sudden drop"
It has no inherent value, is a poor currency substitute, it is a poor store of value, and is on a long term trajectory to zero. People are realizing this and liquidating large/low basis cost positions.
- gaff33 8y agoThis may all be true - but it fails to explain why it crashed now (as opposed to 2 months ago, or 2 months hence).