1. Around 2013-2014, dark web had an influence on bitcoins price, the silk road shutdown did affect bitcoins price, but it is 2017, the adoption has increased hundredfold. Japan legalized bitcoin, do you think it is because Japanese are into dark web. Japan, US, China, the three big players in trading volume, guess all the majority of trade and a price of $3800 is pumped into dark web, ain't it? Stop drawing the equation, bitcoin = dark web. It is a fact that dark web markets are dependent on bitcoins for their success, but bitcoin doesn't give a damn about their failure. Recent eg: Alphabay.
Thank you for pointing this out. It seems we have forgotten already. Such short memories in cryptoland.
Not only did the price dip, it stayed depressed for a second. Now compare this to that; we have TWO major markets shuttered, a whole freaking exchange, and a partridge in a pear tree. It's been like, one of the worst media months for btc in a while, namely, since the GOX.
So why in the hell is the price so high?
Two reasons. Greed, because this is bitcoin, but most importantly exuberance. People were expecting a huge rally after all the BCC/Aug1 debacle, so we got it. Never mind that Nov is still looming. As weak as the hands are here, when they are strong they are like blind dumb brutes. We are buying this despite the obvious bubblre, or some very deep pockets are buying it up for an unknown reason. Either will result in the same end; a considerable crash when someone bigly decides to take profit.
Enjoy this while it lasts. The correction is going to epic, make sure you get off the bus at some point before it flies off the cliff.