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Bitcoin bull due to inflation worries and bitcoin lack of intrinsic value means the only metric is FOMO, so if it goes up it goes up more. To stabilise a high p
by quickthrower2 5y ago
Bitcoin bull due to inflation worries and bitcoin lack of intrinsic value means the only metric is FOMO, so if it goes up it goes up more.
To stabilise a high price long term you’d need additional countries adopting it, and they need to fix the climate impact.
Eventually Bitcoin will be a lacklustre investment like gold. Essentially cash-like but deflationary at heart. That’s if it succeeds. Or it will implode to nothing!
- outside1234 5y agoMy prediction is that the FOMO thing will work the other way and there will be a stampede out of bitcoin in a 1930s style crash.
- quickthrower2 5y agoYes the FOMO does go both ways. Without a network problem it will still hold some value but could be less than 1% of current market traded price in that scenario but unlikely zero.
- deleted 5y ago[deleted]