Ninjastic
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Board Speculation
Re: The bitcoin price crashes - here's why
by
Chef Ramsay
on 31/01/2015, 04:59:02 UTC
Quote from: a fool and his money ... on January 31, 2015, 02:31:12 AM
Quote from: halfawake on January 31, 2015, 01:37:29 AM
Quote from: Kprawn on January 15, 2015, 08:25:31 AM
Sanity will prevail, when speculators exit the trading and Whale hoarders bought up all the cheap coins.  Wink

This is hilarious.  Want to know why bitcoin really crashed?  It's because it's being adopted like crazy, by businesses, but they're only using it as an ATM, not as a currency - in other words, a cheaper way to get money than credit cards.

The other reason?  Speculators.  That's right, speculators.  Speculators have left the building, and that's why the price plummeted.  If there were still a bunch of speculators out there expecting the price of bitcoin to go up, you can bet it would be going up, not down.  It's basic supply and demand.

Speculators are on altcoins now. Bitcoin looks like a pile of horseshit to me.
I wouldn't say the latter. When the specs are done with alts and specifically the eventual litecoin rise, they'll need to buy back into bitcoin in order to cash out. Bitcoin seems to be holding strength above the 220s and when the specs are done w/ the alts over the next month in some way, they'll help fuel a rebirth in the btc price and then the rest of the market players will do the rest to instigate another rally of sorts. I'm not offering predictions but the specs in the alt universe might be the final weak hands once they attempt to cash out. just sayin