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This assumes that the speculators are correct. That is not a good assumption to make.

• roenxi 4y ago
  If the speculators are wrong the price goes down and people tend not to complain about them. People only start bringing up speculators when they are correct.
  • shuntress 4y ago
    That's why bitcoin is such a good investment: the speculators are right about the price going up. /s
    • roenxi 4y ago
      They were right. The speculators from 2010-2020 were right that cryptocurrencies are going to be a reality from now on. Like it or not, it is clear that there is a market here that is measured in billions of dollars and it is going to stay with us.
      • shuntress 4y ago
        Speculation is making crypto impossible to use as currency. When the speculators run out of bigger fools the bubble will pop. Crypto can at least just be purely speculative without really hurting anybody but it's not good for housing.