Quote from: CryptoGamblingSites on August 05, 2018, 06:38:47 AM

Quote from: Kenneth_Bianchi on August 05, 2018, 06:28:25 AM

That's what makes this a bit illogical, with all that positive news about Bitcoin's accessibility and adoption for different businesses, why would it be going down still? Wouldn't people want to buy it because of those reasons?

Inflated prices in 2017?!?! Things don't increase in value 500% "normally," at the 15k mark everyone knew "this is crazy"

It's probably still overvalued today and will be at around the same level it is today until early next year.

Everyone who wants GAINS can fuck off, bitcoin didn't ask you to buy it trying to make money off it.

Anyone who wants to lose more money will buy altcoins which are ABSOLUTELY overvalued and going to lose people tons of money.

Bitcoin just keeps sitting there, being valuable with no way to really tell how much it's really worth.

Yes of course, it was way overvalued then. But now, it is in the sideways stage where it becomes range-bound for weeks or months. That's not the point here though. The price showed absolutely no reaction to some fundamentally positive news of being adopted by major commerce giants. Logic says it should at least make some sort of reaction, but no one is calling for a full out bull run here. This is about market mechanics.

We won't see that kind of bull run again, nor do we need to. The point is that bitcoin is an asset that is traded publicly and therefore behaves in similar ways.