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What? That's absurd. A bubble crashes when people LOSE confidence, not when they gain it.
by mcherm 14y ago
What? 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.