Quote from: ronald98 on January 31, 2015, 05:20:55 AM

Quote from: knight22 on January 31, 2015, 05:09:49 AM

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.

Good riddance.

Speculators expecting the price of altcoins to go up are likely to get burned at present.

Thing is, speculators were required to bootstrap the bitcoin ecosystem. They are not really needed anymore as bitcoin became much more useful than it was so less speculators = more stability. Altcoins will always remain a craze for speculators, nothing more and no market will likely emerge out of these.