Post
Topic
Board Speculation
Re: Could Greece bankruptcy fuel the next Bitcoin rally?
by
1Referee
on 09/05/2015, 17:26:20 UTC
It happened all before with Cyprus in 2013:

Shares of the cyber-currency bitcoin have surged in the past week as investors seek safe havens following the unprecedented bailout of Cyprus' banks.

http://money.cnn.com/2013/03/28/investing/bitcoin-cyprus/

And today:

Schaeuble Warns Defaults Can Surprise Before Greece Test

“Experience elsewhere in the world has shown that a country can suddenly become unable to pay its bills,” Schaeuble said in an interview with Frankfurter Allgemeine Sonntagszeitung published Saturday.

http://www.bloomberg.com/news/articles/2015-05-09/greece-huddles-with-creditors-ahead-of-ecb-test-as-support-slips


Obviously, NO the Greece bankruptcy will not 'fuel' the next bitcoin rally. If we want to see again 1'000 dollars per bitcoin, that in this case we need a person with a lot of dollars (billion or also million $$) and he should buy bitcoin and continue to buy.

It would be great to see a steady but healthy growth over a long period of time. For that to happen there must be genuine demand. I prefer to have genuine demand and a steady rise, rather than a few wealthy investors buying up coins to dump it again at some point. And no, I don't think Greece can trigger a rally.