Has anyone else noticed how stable the weighted average price is over the past 6 months?
Notice how the weighted price is about $10.50 going back up to 6 months. The price has been highly volatile, of course, but perhaps this price makes some kind of economic sense. If I had to guess, this is basically the price that can be supported by libertarian computer nerds with disposable income. Not every bitcoiner fits into that category, obviously, but as a sort of average, this could explain why the price has settled on this value. All the libertarian computer nerds with disposable income have already adopted bitcoin, and we'll need to invade a new demographic for the price to rise further.
Notice how the weighted price is about $10.50 going back up to 6 months. The price has been highly volatile, of course, but perhaps this price makes some kind of economic sense. If I had to guess, this is basically the price that can be supported by libertarian computer nerds with disposable income. Not every bitcoiner fits into that category, obviously, but as a sort of average, this could explain why the price has settled on this value. All the libertarian computer nerds with disposable income have already adopted bitcoin, and we'll need to invade a new demographic for the price to rise further.