if the growth in demand for bitcoin outpaces its inflation rate, it behaves like a deflationary currency. see price movement from $5 --> $100+, or
this warning i posted back in february.
The only growth in demand was from speculators; those are getting out of the market now and abandoning this sinking ship.
disagree. a lot of data does as well. do you play on seals with clubs, by any chance? wild speculation led to a bubble, but there is 'real' growth too -- commercial and financial. we also got an unprecedented amount of media attention, the kind thing that does not get factored into price but slowly, over a period of time.
only weak hands are selling right now, and there are a lot of strong hands waiting. i wonder what percentage of buyers in this short bear market were first-time buyers?