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In this particular case I don't think the market is all that complex. People were valuing bitcoin on the assumption that other people would keep buying it at h
by spankyspangler 5y ago
In this particular case I don't think the market is all that complex. People were valuing bitcoin on the assumption that other people would keep buying it at higher prices before they sell.
People didn't cut nearly half a trillion dollars from the value of bitcoin on the word of a person known for blurting out impulsive and weird things. He didn't reveal any deep new insights into this thing. What Musk said just spooked the herd, that's all.
- nly 5y agoIt would be interesting to figure out how much $USD has been paid for all the coins currently held, rather than looking at just market cap. Shame it can't be calculated.
- dr_zoidberg 5y agoI think the exchanges would be the ones that could answer that question... But I don't think it's in their interests to do so.