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When it's 30+ percent of the world's transactions? Its market cap needs to be worth trillions before a highly stable price is established. When Bitcoin is truly
by salient 13y ago
When it's 30+ percent of the world's transactions? Its market cap needs to be worth trillions before a highly stable price is established. When Bitcoin is truly mainstream and your grandma and grandpa will be having Bitcoin, and don't "panic sell" at every Bitcoin news, it's when Bitcoin's price will be stable.
Right now the market is full of people who buy and sell Bitcoin based on the latest news. Those people need to represent a tiny percentage of Bitcoin's market cap before volatility decreases drastically. Of course, when that happens, you shouldn't have major news like "China bans Bitcoin" anymore, since if so many people are using it, then you can assume the legal stuff has already been settled long ago, and most countries are using it, and won't ban it overnight anymore.