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I wasn't making a general statement, I was talking about Bitcoin - people buy many things just because they are expensive, well, the rich people at least. BTC i
by kolev 13y ago
I wasn't making a general statement, I was talking about Bitcoin - people buy many things just because they are expensive, well, the rich people at least. BTC is dropping again after it couldn't break above $1,000. Any comment on stock spits then?
- mrb 13y agoData shows your statements are wrong. Volatility is decreasing - look at the next to last graph in this article: http://bitcoinmagazine.com/6543/bitcoin-volatility-analysis/ http://bitcoinmagazine.com/6543/bitcoin-volatility-analysis/ (Stock splits are irrelevant. Yes a split by itself does not affect volatility. I was just making a comment that, generally speaking, penny stocks are more volatile that highly-priced stocks.)
- kolev 13y agoA stock split is not irrelevant as it "lowers" the unit price - it has a strong psychological effect. Not sure if you've noticed, but some sites started to use mBTC instead of BTC when it broke $1,000! Volatility is decreasing as people aren't as hyped up as they were and don't rush to buy at any price anymore. What you see is people waiting and meanwhile doing decent day trading profits from the small movements up and down. BTC couldn't break 1,000 USD and 6,000 CNY, so, naturally, it's falling again.