Quote from: drachman on October 26, 2018, 02:08:54 AM

Quote from: mejalipat on October 19, 2018, 11:15:09 AM

many people predict that the price of bitcoin will increase at the end of the year so that many people take this opportunity to buy as much bitcoin as possible so they hope that by the end of the year they will be able to get lots of profit

If a significant amount of traders and investors follow that strategy then they are going to make the price to go up as there is an increase in the demand but if anything that growth is only going to be temporal and as soon as people stop investing in the market because they are expecting for the value of bitcoin to go up then it is likely that we are going to return to the current prices.

That is usually the thing for a market that is only moving based on speculation and no real life usage. The demand we keep seeing now are basically speculative driven and manipulated by some whales based on how the market would favor them, but in most cases, we just have to understand that this is only something that can be eliminated with real life usage in the long run where we get to have real demand and supply based on people seeing the need to use it in real life and not just some I want to get rich FOMO thing that in the end, it just gets to a point where it could no longer go up and then we see another level of cashing out.