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I personally think this is bad news for Bitcoin as it limits it to a speculator tool. With price growing constantly, it's not a good tool for e-commerce either
by kolev 13y ago
I personally think this is bad news for Bitcoin as it limits it to a speculator tool. With price growing constantly, it's not a good tool for e-commerce either - price in BTC needs to have 20-30%, plus, who'd spend their BTC and not their fiat if fiat stays the same and BTC keeps growing? I think BTC will drop under $1,000 and will stay there for a bit until some "real" positive news come in. Currently at the moment there's a pump-and-dump process going on as not everybody was able to sell yesterday. I'd say, ether buy below $900 or above $1,300 as for days BTC was trying to break $1,200 without success. I don't think there's positive enough news for it to break it today or tomorrow. Volumes of trading dropped significantly above the $1,100 levels, so, that's a good sign of Bitcoin running out of steam.