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As long as people think that bitcoin is going to crash, it will continue going up. In stock parlance, that's called "climbing the Wall of Worry". It's only af
by steven2012 14y ago
As long as people think that bitcoin is going to crash, it will continue going up. In stock parlance, that's called "climbing the Wall of Worry".
It's only after the last cynics have been suckered in, most believe that "you just can't lose" is when it is going to crash.
- mcherm 14y agoWhat? That's absurd. A bubble crashes when people LOSE confidence, not when they gain it.
- abentspoon 14y agoIt's not just about confidence. If the price is being driven by new speculative investment (ie, a bubble), the price should stagnate as fewer speculators join the pool. If the price stagnates, there will be little incentive for purely speculative investors to keep their money in BTC. The last cynic buying in is just an indicator of late-adopters hitting the market, signaling little gains left to be had.