Post
Topic
Board Speculation
Re: Why was $13,800 unsustainable?
by
gentlemand
on 28/06/2019, 09:58:10 UTC
@ 11,350 the bitcoin market will need $20.43 million per day to maintain Wink good luck with that lol

I've seen this thinking a million times over. It's pitiful to witness the lack of numerical and scale comprehension. It's a bigger number than your bank account. Guess what, the world is a big place with a big number of people too.

Divided by all the countries in the world that is $100,000 per country per day.

Hold me.

Grayscale, one company, alone is supposedly buying 20% of mined coins per month.

As for the original question $13,800 was a price reached in no time at all. It stands to reason it'll disappear in no time at all as well. There was no epic struggle to reach it. No support was built around it.