Hello everyone,
I just joined this wonderful forum because I found the conversations are very interesting. I have been studying BTC for quite a while and finding the latest price increase is simply nuts! Why is it going up so much so fast? Anyone got a sensible answer?
I just joined this wonderful forum because I found the conversations are very interesting. I have been studying BTC for quite a while and finding the latest price increase is simply nuts! Why is it going up so much so fast? Anyone got a sensible answer?
Think of it like a tech stock.
Current Market Cap (billion USD)
Twitter 13.4
Snapchat 26.4
Bitcoin 28.7
Yahoo 47.7
Facebook 438.5
Market has decided Bitcoin is no longer equals a Twitter. Now it is about a Snapchat in value.
Given the underlying potential of the technology it is entirely possible that some large institutional investors have decided that it may be worth a Yahoo which if true bodes well for gains in the future.
If MA is teaching me something - its this -- QUESTION: Why is it going up so much so fast? Anyone got a sensible answer?
ANSWER: Government Regulations on capital flows or Gold Imports/Exports of each respective Country and value of US$...all this maybe shifting those who can -- into bitcoin to preserve their wealth as their home currency sinks in purchasing power relative to US$
What we should also ask -- which Country or who is the primary buyer of Bitcoin ...is that possible to answer?
- IF I AM WRONG OR WAY OFF....PLS BE KIND TO HELP ME BETTER UNDERSTAND. THANK YOU