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It's not speculators that drive prices up on any meaningful timeline. Prices are a reflection of demand relative to supply. Speculators can anticipate shortages
by ETH_start 4y ago
It's not speculators that drive prices up on any meaningful timeline. Prices are a reflection of demand relative to supply. Speculators can anticipate shortages and thereby increase prices, and with it rationing, sooner than they respectively would have otherwise, but that has been found to reduce the severity of shortages in the long run.